Harbor Investment Advisory LLC boosted its stake in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 148.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,010 shares of the oil and gas company's stock after acquiring an additional 604 shares during the quarter. Harbor Investment Advisory LLC's holdings in Valero Energy were worth $107,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in VLO. Norges Bank bought a new stake in Valero Energy during the 4th quarter worth about $291,233,000. BlackRock Inc. grew its holdings in Valero Energy by 4.3% during the 4th quarter. BlackRock Inc. now owns 37,549,543 shares of the oil and gas company's stock worth $2,820,347,000 after acquiring an additional 1,536,457 shares during the last quarter. Vanguard Group Inc. grew its holdings in Valero Energy by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 47,955,666 shares of the oil and gas company's stock worth $4,869,418,000 after acquiring an additional 1,499,939 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Valero Energy by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 7,642,838 shares of the oil and gas company's stock worth $776,055,000 after acquiring an additional 1,296,547 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Valero Energy by 416.5% during the 1st quarter. Neuberger Berman Group LLC now owns 1,243,931 shares of the oil and gas company's stock worth $126,316,000 after acquiring an additional 1,003,087 shares during the last quarter. Institutional investors own 79.78% of the company's stock.
Get Valero Energy alerts:Valero Energy Price Performance
NYSE VLO opened at $101.17 on Wednesday. The business has a 50 day simple moving average of $111.42 and a 200 day simple moving average of $112.11. Valero Energy Co. has a 52-week low of $65.13 and a 52-week high of $146.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.25. The stock has a market cap of $39.86 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 0.59 and a beta of 1.68.
Valero Energy (NYSE:VLO – Get Rating) last posted its earnings results on Thursday, July 28th. The oil and gas company reported $11.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.33 by $5.03. Valero Energy had a return on equity of 34.65% and a net margin of 4.54%. The business had revenue of $51.64 billion during the quarter, compared to analysts' expectations of $40.73 billion. During the same period in the prior year, the business earned $0.48 EPS. Valero Energy's revenue for the quarter was up 86.1% compared to the same quarter last year. Analysts anticipate that Valero Energy Co. will post 27.64 earnings per share for the current fiscal year.Valero Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 4th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $3.92 dividend on an annualized basis and a yield of 3.87%. Valero Energy's payout ratio is 22.57%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on VLO. Morgan Stanley upped their target price on shares of Valero Energy from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, July 15th. Credit Suisse Group upped their target price on shares of Valero Energy to $145.00 in a research report on Thursday, June 9th. Piper Sandler cut their target price on shares of Valero Energy from $150.00 to $148.00 and set an "overweight" rating on the stock in a research report on Monday, September 12th. Redburn Partners downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 1st. Finally, Cowen cut their target price on shares of Valero Energy to $127.00 in a research report on Tuesday, September 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $130.23.
Valero Energy Profile
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Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.
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