Miller Howard Investments Inc. NY decreased its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 25.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,373 shares of the oil and gas company’s stock after selling 6,526 shares during the period. Miller Howard Investments Inc. NY’s holdings in Valero Energy were worth $7,509,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VLO. Peterson Wealth Services lifted its stake in Valero Energy by 12.4% in the third quarter. Peterson Wealth Services now owns 1,573 shares of the oil and gas company’s stock valued at $610,000 after buying an additional 174 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Valero Energy by 2.9% during the third quarter. Apollon Wealth Management LLC now owns 12,237 shares of the oil and gas company’s stock worth $4,743,000 after acquiring an additional 347 shares during the last quarter. First Interstate Bank bought a new position in shares of Valero Energy during the third quarter worth about $223,000. Sigma Planning Corp increased its holdings in shares of Valero Energy by 0.4% in the 3rd quarter. Sigma Planning Corp now owns 7,171 shares of the oil and gas company’s stock worth $2,779,000 after acquiring an additional 29 shares during the period. Finally, Straight Path Wealth Management acquired a new stake in shares of Valero Energy in the 3rd quarter worth about $300,000. Institutional investors and hedge funds own 78.69% of the company’s stock.
Trending Headlines about Valero Energy
Here are the key news stories impacting Valero Energy this week:
- Positive Sentiment: Positive earnings momentum: Recent coverage says Valero is well positioned for a potential near-term surge because analysts have been revising earnings estimates higher. The company’s latest reported quarter also substantially exceeded consensus EPS and revenue expectations, supported by strong refining margins. Why Valero Energy Might Be Well Poised for a Surge
- Positive Sentiment: Growth and valuation appeal: Zacks characterizes VLO as having several solid growth attributes that could help it outperform the broader market. The stock’s strong profitability, recent earnings growth and relatively low valuation may be attracting investors. Is Valero Energy a Solid Growth Stock?
- Positive Sentiment: Analyst support: Wall Street coverage remains mixed but includes a “Moderate Buy” consensus, with Citigroup and Barclays analysts expecting additional appreciation. Valero Stock Rated Moderate Buy
- Neutral Sentiment: Potential defensive characteristics: Commentary presents Valero as a possible hedge during periods of market or energy-sector uncertainty, while emphasizing that the strategy involves trade-offs and remains exposed to cyclical refining conditions. Valero: A Potential Hedge, But Not Without Trade-Offs
- Negative Sentiment: Downside risks remain: Valero’s record quarter was accompanied by lighter fourth-quarter guidance, while potential Russian diesel imports, crude-price pressure and weaker refining margins could reduce future earnings. Valero’s Windfall Quarter Meets Washington’s Push for Cheaper Diesel
- Negative Sentiment: Profit-taking risk: Investor Michael Burry is considering selling, reducing or donating some long-held positions, including Valero, because he views valuations as stretched. Freedom Broker also issued a sell rating, creating a counterweight to the more bullish analyst forecasts. Michael Burry Eyes the Exit on Valero
Valero Energy Price Performance
Shares of NYSE VLO opened at $426.23 on Tuesday. The stock has a market cap of $122.72 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.24 and a beta of 0.59. The firm’s 50-day simple moving average is $392.44 and its 200 day simple moving average is $279.72. Valero Energy Corporation has a fifty-two week low of $159.90 and a fifty-two week high of $461.52. The company has a quick ratio of 1.23, a current ratio of 1.64 and a debt-to-equity ratio of 0.37.
Valero Energy (NYSE:VLO – Get Free Report) last announced its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The firm had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 47.50%. Valero Energy’s revenue was up 43.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.66 EPS. Equities analysts expect that Valero Energy Corporation will post 54.22 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Valero Energy from $401.00 to $394.00 and set a “hold” rating on the stock in a research report on Thursday, October 8th. Erste Group Bank cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. The Goldman Sachs Group raised their price target on shares of Valero Energy from $365.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Piper Sandler lifted their price target on Valero Energy from $329.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Finally, UBS Group reiterated a “buy” rating and set a $467.00 price objective on shares of Valero Energy in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.94.
View Our Latest Research Report on VLO
About Valero Energy
Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. The company’s primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.
Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.
In addition to conventional refining, Valero has businesses focused on renewable fuels.
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