Douglas Lane & Associates LLC Boosts Position in Valero Energy Corporation $VLO

Douglas Lane & Associates LLC raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 31,332 shares of the oil and gas company’s stock after buying an additional 304 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Valero Energy were worth $4,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Collective Family Office LLC grew its holdings in Valero Energy by 3.1% during the 2nd quarter. Collective Family Office LLC now owns 5,296 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 157 shares in the last quarter. City Center Advisors LLC boosted its position in shares of Valero Energy by 4.3% during the 2nd quarter. City Center Advisors LLC now owns 2,330 shares of the oil and gas company’s stock valued at $313,000 after acquiring an additional 95 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Valero Energy during the 1st quarter valued at about $5,359,000. Voya Investment Management LLC boosted its position in shares of Valero Energy by 18.9% during the 1st quarter. Voya Investment Management LLC now owns 207,823 shares of the oil and gas company’s stock valued at $27,447,000 after acquiring an additional 33,003 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Valero Energy by 12.4% during the 1st quarter. Inspire Investing LLC now owns 2,367 shares of the oil and gas company’s stock valued at $313,000 after acquiring an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $156.78 on Monday. 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 Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $163.02. The stock has a 50 day moving average price of $145.24 and a two-hundred day moving average price of $132.92. The company has a market capitalization of $48.70 billion, a P/E ratio of 65.33, a PEG ratio of 1.78 and a beta of 1.10.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The business’s revenue was down 13.3% on a year-over-year basis. Analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 2.9%. Valero Energy’s payout ratio is presently 188.33%.

Wall Street Analyst Weigh In

VLO has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday. Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. TD Cowen downgraded Valero Energy from a “buy” rating to a “hold” rating and lifted their price target for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Raymond James Financial lifted their price target on Valero Energy from $170.00 to $177.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 9th. Finally, Morgan Stanley boosted their target price on Valero Energy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Valero Energy presently has a consensus rating of “Moderate Buy” and an average price target of $158.87.

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.