Elevated Capital Advisors LLC cut its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 87.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 312 shares of the oil and gas company’s stock after selling 2,105 shares during the period. Elevated Capital Advisors LLC’s holdings in Valero Energy were worth $121,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in VLO. Bank of America Corp DE grew its holdings in Valero Energy by 11.4% during the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after acquiring an additional 516,975 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Valero Energy by 9.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock valued at $733,660,000 after purchasing an additional 254,604 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Valero Energy by 18.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock valued at $702,285,000 after purchasing an additional 442,177 shares in the last quarter. Amundi lifted its position in shares of Valero Energy by 45.3% during the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock worth $638,695,000 after purchasing an additional 806,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Valero Energy by 33.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after purchasing an additional 520,642 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on VLO. Evercore decreased their price target on Valero Energy from $385.00 to $325.00 in a research note on Wednesday, October 28th. The Goldman Sachs Group upped their price objective on Valero Energy from $457.00 to $496.00 and gave the company a “buy” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. upped their price objective on Valero Energy from $339.00 to $439.00 and gave the company an “overweight” rating in a research note on Thursday, October 8th. BMO Capital Markets increased their target price on Valero Energy from $455.00 to $505.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Finally, Raymond James Financial lifted their target price on Valero Energy from $450.00 to $530.00 in a research report on Monday, October 19th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Valero Energy has an average rating of “Moderate Buy” and a consensus target price of $406.32.
More Valero Energy News
Here’s some of the latest news about VLO:
- Positive Sentiment: Zacks highlighted Valero for above-average financial growth and included VLO among its Rank #1 (Strong Buy) growth stocks, potentially reinforcing the bullish case for earnings prospects. Article: 3 Reasons Why Growth Investors Shouldn’t Overlook Valero Energy Article: Best Growth Stocks to Buy for November 11th
- Positive Sentiment: The board affirmed Valero’s regular $1.20-per-share quarterly dividend, payable December 21 to shareholders of record November 24. The article also points to discounted heavy crude, favorable freight rates, and renewable-fuels operations as potential business supports. Article: How Investors May Respond to Valero Energy Dividend Affirmation
- Negative Sentiment: Jim Cramer advised investors to sell, arguing that Valero’s refining-cycle rally may be over and that margins could normalize further. This is a caution about the cycle and profit-taking, rather than a reported change in Valero’s operations. Article: Cramer Recommends Selling Valero Energy Stock
Valero Energy Stock Up 3.9%
Shares of NYSE:VLO opened at $364.23 on Thursday. The company’s fifty day moving average is $399.54 and its two-hundred day moving average is $292.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.72. Valero Energy Corporation has a 1-year low of $159.90 and a 1-year high of $461.52. The stock has a market capitalization of $101.58 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 0.18 and a beta of 0.58.
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating the consensus estimate of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The business had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. During the same period in the previous year, the business posted $3.66 EPS. The company’s quarterly revenue was up 43.3% on a year-over-year basis. Equities analysts anticipate that Valero Energy Corporation will post 58.33 EPS for the current year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. Valero Energy’s dividend payout ratio (DPR) is currently 10.80%.
About Valero Energy
Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.
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