Park Avenue Securities LLC Boosts Stock Holdings in Valero Energy Co. (NYSE:VLO)

Posted by on Jul 2nd, 2023

Park Avenue Securities LLC lifted its stake in Valero Energy Co. (NYSE:VLO – Free Report) by 42.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,440 shares of the oil and gas company’s stock after buying an additional 4,007 shares during the period. Park Avenue Securities LLC’s holdings in Valero Energy were worth $1,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of VLO. Oppenheimer & Co. Inc. grew its holdings in shares of Valero Energy by 10.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 24,625 shares of the oil and gas company’s stock worth $3,124,000 after purchasing an additional 2,268 shares during the last quarter. AMG National Trust Bank purchased a new position in shares of Valero Energy in the fourth quarter valued at about $212,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Valero Energy by 1.3% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,119 shares of the oil and gas company’s stock worth $1,509,000 after purchasing an additional 176 shares during the period. Quantinno Capital Management LP grew its stake in shares of Valero Energy by 126.4% in the fourth quarter. Quantinno Capital Management LP now owns 11,756 shares of the oil and gas company’s stock worth $1,491,000 after purchasing an additional 6,564 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Valero Energy by 21.6% during the 4th quarter. Meeder Asset Management Inc. now owns 34,942 shares of the oil and gas company’s stock valued at $4,433,000 after purchasing an additional 6,214 shares during the period. Institutional investors own 78.00% of the company’s stock.

Valero Energy Trading Up 0.6 %

NYSE VLO opened at $117.30 on Friday. Valero Energy Co. has a 12 month low of $96.93 and a 12 month high of $150.39. The company has a current ratio of 1.52, a quick ratio of 1.03 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average price is $112.15 and its 200-day moving average price is $125.07. The stock has a market cap of $42.41 billion, a P/E ratio of 3.33, a P/E/G ratio of 0.87 and a beta of 1.66.

Valero Energy (NYSE:VLO – Free Report) last announced its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $8.27 EPS for the quarter, beating the consensus estimate of $7.24 by $1.03. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $37.88 billion. Valero Energy had a net margin of 7.86% and a return on equity of 55.32%. Valero Energy’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. As a group, equities analysts forecast that Valero Energy Co. will post 22.19 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Tuesday, May 23rd were given a $1.02 dividend. The ex-dividend date of this dividend was Monday, May 22nd. This represents a $4.08 annualized dividend and a yield of 3.48%. Valero Energy’s dividend payout ratio (DPR) is presently 11.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VLO shares. UBS Group initiated coverage on Valero Energy in a research report on Wednesday, March 8th. They issued a “buy” rating and a $176.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Valero Energy from $160.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, March 28th. Wells Fargo & Company dropped their target price on shares of Valero Energy from $126.00 to $120.00 in a research report on Friday, June 2nd. Royal Bank of Canada reduced their price target on shares of Valero Energy from $159.00 to $151.00 in a research report on Friday, April 28th. Finally, StockNews.com assumed coverage on shares of Valero Energy in a report on Thursday, May 18th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $151.46.

Valero Energy Company Profile

(Free Report)

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, and asphalt; aromatics; and sulfur crude oils.

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

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