HB Wealth Management LLC Increases Stake in Valero Energy Corporation (NYSE:VLO)

HB Wealth Management LLC grew its stake in Valero Energy Corporation (NYSE:VLO) by 6.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,707 shares of the oil and gas company’s stock after buying an additional 1,155 shares during the quarter. HB Wealth Management LLC’s holdings in Valero Energy were worth $2,471,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. World Investment Advisors boosted its stake in shares of Valero Energy by 1.8% in the 4th quarter. World Investment Advisors now owns 4,323 shares of the oil and gas company’s stock valued at $530,000 after buying an additional 78 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Valero Energy by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 89 shares during the period. Field & Main Bank lifted its stake in Valero Energy by 1.2% during the first quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company’s stock worth $1,054,000 after purchasing an additional 97 shares during the last quarter. Heritage Wealth Management Inc. lifted its stake in Valero Energy by 0.5% during the first quarter. Heritage Wealth Management Inc. now owns 19,349 shares of the oil and gas company’s stock worth $2,555,000 after purchasing an additional 97 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its stake in Valero Energy by 1.8% during the fourth quarter. KCM Investment Advisors LLC now owns 5,497 shares of the oil and gas company’s stock worth $674,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VLO shares. UBS Group boosted their target price on Valero Energy from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen cut Valero Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Mizuho boosted their target price on Valero Energy from $158.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. Citigroup cut Valero Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Finally, Evercore ISI started coverage on Valero Energy in a research note on Wednesday, June 18th. They set an “in-line” rating and a $135.00 target price for the company. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and an average price target of $154.47.

Valero Energy Trading Up 1.9%

VLO opened at $144.61 on Tuesday. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 60.25, a price-to-earnings-growth ratio of 3.43 and a beta of 1.00. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $167.78. The business’s 50 day moving average is $137.86 and its two-hundred day moving average is $131.00. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. On average, research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, July 31st. Valero Energy’s payout ratio is currently 188.33%.

About Valero Energy

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.