AustralianSuper Pty Ltd Cuts Stake in Valero Energy Corporation $VLO

AustralianSuper Pty Ltd lessened its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 341,168 shares of the oil and gas company’s stock after selling 78,653 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Valero Energy were worth $45,860,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VLO. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 7,931,018 shares during the last quarter. Vanguard Group Inc. increased its holdings in Valero Energy by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock valued at $5,135,043,000 after acquiring an additional 4,155,522 shares during the last quarter. Nuveen LLC purchased a new stake in Valero Energy in the 1st quarter worth $529,864,000. Invesco Ltd. boosted its holdings in shares of Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock valued at $647,823,000 after purchasing an additional 1,247,196 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock valued at $1,510,586,000 after purchasing an additional 736,533 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $195.00 price objective (up previously from $181.00) on shares of Valero Energy in a research note on Friday. Wells Fargo & Company initiated coverage on Valero Energy in a research report on Friday, October 17th. They set an “overweight” rating and a $216.00 target price for the company. Mizuho boosted their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Finally, Piper Sandler increased their price objective on shares of Valero Energy from $200.00 to $201.00 and gave the company an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.

Valero Energy Stock Performance

NYSE:VLO opened at $170.92 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. The stock’s fifty day moving average is $158.99 and its 200 day moving average is $141.05. The firm has a market capitalization of $53.10 billion, a PE ratio of 35.68, a PEG ratio of 1.92 and a beta of 1.05. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. The business had revenue of $32.17 billion for the quarter, compared to analysts’ expectations of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, sell-side analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

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.