Baird Financial Group Inc. Has $44.01 Million Holdings in Valero Energy Co. (NYSE:VLO)

Posted by Defense World Staff on Mar 15th, 2023

Baird Financial Group Inc. grew its stake in Valero Energy Co. (NYSE:VLO – Get Rating) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 411,881 shares of the oil and gas company’s stock after buying an additional 2,601 shares during the period. Baird Financial Group Inc. owned approximately 0.11% of Valero Energy worth $44,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parsons Capital Management Inc. RI lifted its position in shares of Valero Energy by 2.2% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 5,231 shares of the oil and gas company’s stock worth $559,000 after purchasing an additional 115 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Valero Energy by 13.8% in the 3rd quarter. Avantax Advisory Services Inc. now owns 22,091 shares of the oil and gas company’s stock valued at $2,360,000 after acquiring an additional 2,682 shares in the last quarter. MidWestOne Financial Group Inc. raised its holdings in Valero Energy by 262.5% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 8,982 shares of the oil and gas company’s stock valued at $954,000 after acquiring an additional 6,504 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Valero Energy by 29.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 276,830 shares of the oil and gas company’s stock valued at $29,579,000 after acquiring an additional 63,800 shares in the last quarter. Finally, Whittier Trust Co. raised its holdings in Valero Energy by 2.6% in the 3rd quarter. Whittier Trust Co. now owns 242,950 shares of the oil and gas company’s stock valued at $25,958,000 after acquiring an additional 6,156 shares in the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.

Valero Energy Stock Up 2.7 %

Shares of VLO opened at $131.62 on Wednesday. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of 4.52, a PEG ratio of 0.91 and a beta of 1.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.38. The business’s fifty day moving average price is $135.26 and its two-hundred day moving average price is $126.21. Valero Energy Co. has a 52 week low of $83.13 and a 52 week high of $150.39.

Valero Energy (NYSE:VLO – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The oil and gas company reported $8.45 EPS for the quarter, beating analysts’ consensus estimates of $7.45 by $1.00. The firm had revenue of $41.75 billion for the quarter, compared to analyst estimates of $43.31 billion. Valero Energy had a return on equity of 50.15% and a net margin of 6.54%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $2.47 EPS. On average, analysts predict that Valero Energy Co. will post 24.37 earnings per share for the current year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Tuesday, February 14th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.10%. This is a positive change from Valero Energy’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, February 13th. Valero Energy’s dividend payout ratio (DPR) is presently 14.01%.

Wall Street Analyst Weigh In

Several research firms have commented on VLO. BMO Capital Markets raised Valero Energy from a “market perform” rating to an “outperform” rating and upped their price target for the company from $135.00 to $160.00 in a report on Tuesday, January 17th. Mizuho upped their price target on Valero Energy from $157.00 to $170.00 in a report on Friday, March 10th. The Goldman Sachs Group upped their price target on Valero Energy from $111.00 to $126.00 and gave the company a “sell” rating in a report on Thursday, January 19th. Raymond James upped their price objective on Valero Energy from $169.00 to $174.00 and gave the company a “strong-buy” rating in a research note on Monday, January 30th. Finally, Morgan Stanley increased their price target on Valero Energy from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.38.

Valero Energy Profile

(Get Rating)

Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment consists of refining operations, associated marketing activities, and logistics assets that support its refining operations.

Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.