Corigliano Investment Advisers LLC Makes New $8.34 Million Investment in Valero Energy Co. (NYSE:VLO)

Corigliano Investment Advisers LLC purchased a new stake in Valero Energy Co. (NYSE:VLO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 68,000 shares of the oil and gas company’s stock, valued at approximately $8,336,000. Valero Energy makes up approximately 4.0% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in Valero Energy during the 4th quarter worth approximately $25,000. Tobam acquired a new position in Valero Energy during the fourth quarter worth $30,000. OFI Invest Asset Management bought a new position in Valero Energy in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in Valero Energy in the 4th quarter valued at $38,000. Finally, Creative Capital Management Investments LLC lifted its position in Valero Energy by 122.0% during the 4th quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company’s stock worth $41,000 after buying an additional 183 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

NYSE:VLO opened at $117.21 on Wednesday. The stock has a 50 day simple moving average of $120.65 and a 200 day simple moving average of $128.73. The stock has a market cap of $36.71 billion, a P/E ratio of 13.82, a PEG ratio of 2.93 and a beta of 0.98. Valero Energy Co. has a 1-year low of $99.00 and a 1-year high of $167.78. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. The firm had revenue of $28.76 billion for the quarter, compared to analyst estimates of $28.54 billion. During the same period in the prior year, the business posted $3.82 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts anticipate that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.86%. Valero Energy’s dividend payout ratio is presently 159.72%.

Wall Street Analyst Weigh In

VLO has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Valero Energy from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Scotiabank lowered their price target on Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group upgraded Valero Energy from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $115.00 to $127.00 in a research note on Monday, April 28th. Wells Fargo & Company lowered their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Mizuho cut their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.80.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.