Comerica Bank Has $9.58 Million Stake in Valero Energy Corporation $VLO

Comerica Bank increased its position in shares of Valero Energy Corporation (NYSE:VLO) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,541 shares of the oil and gas company’s stock after buying an additional 1,258 shares during the period. Comerica Bank’s holdings in Valero Energy were worth $9,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in VLO. Price T Rowe Associates Inc. MD increased its holdings in Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after buying an additional 7,931,018 shares during the last quarter. Vanguard Group Inc. boosted its position in Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Nuveen LLC bought a new position in Valero Energy during the first quarter worth $529,864,000. GAMMA Investing LLC boosted its position in Valero Energy by 15,395.5% during the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock worth $179,047,000 after purchasing an additional 1,346,950 shares during the period. Finally, Invesco Ltd. boosted its position in Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Trading Down 0.0%

Shares of Valero Energy stock opened at $147.10 on Wednesday. The firm has a 50-day moving average of $140.88 and a 200-day moving average of $131.05. The stock has a market cap of $45.70 billion, a PE ratio of 61.29, a PEG ratio of 3.43 and a beta of 1.03. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $155.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

Valero Energy (NYSE:VLO) last announced 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. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $27 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. Valero Energy’s quarterly revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.1%. Valero Energy’s dividend payout ratio is currently 188.33%.

Analyst Ratings Changes

A number of research firms have commented on VLO. Barclays lifted their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Piper Sandler lifted their price objective on shares of Valero Energy from $159.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Raymond James Financial lifted their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 15th. Wolfe Research cut shares of Valero Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Mizuho boosted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $154.47.

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.