NewEdge Wealth LLC boosted its holdings in Valero Energy Corporation (NYSE:VLO – Free Report) by 23.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,764 shares of the oil and gas company’s stock after purchasing an additional 2,585 shares during the quarter. NewEdge Wealth LLC’s holdings in Valero Energy were worth $2,241,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Valero Energy in the third quarter valued at approximately $27,000. Torren Management LLC purchased a new position in Valero Energy in the fourth quarter valued at about $30,000. Cypress Capital Management LLC WY purchased a new position in Valero Energy in the third quarter valued at about $34,000. Triumph Capital Management purchased a new position in Valero Energy in the third quarter valued at about $35,000. Finally, Accordant Advisory Group Inc raised its position in Valero Energy by 194.4% in the fourth quarter. Accordant Advisory Group Inc now owns 212 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.
Valero Energy Stock Down 0.4%
Shares of NYSE VLO opened at $247.14 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. The stock’s 50-day simple moving average is $237.37 and its 200-day simple moving average is $200.32. The firm has a market cap of $73.38 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.35 and a beta of 0.58. Valero Energy Corporation has a 1 year low of $125.10 and a 1 year high of $258.43.
Valero Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, May 21st. Valero Energy’s payout ratio is 34.88%.
Analyst Ratings Changes
A number of analysts have recently issued reports on VLO shares. Wolfe Research reiterated an “underperform” rating and set a $203.00 price objective on shares of Valero Energy in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Scotiabank lifted their price objective on shares of Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets lifted their price objective on shares of Valero Energy from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and an average target price of $237.94.
Read Our Latest Research Report on VLO
Insider Activity
In related news, SVP Eric A. Fisher sold 400 shares of Valero Energy stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $238.60, for a total value of $95,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.
About Valero Energy
Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.
In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.
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