Valero Energy Co. (NYSE:VLO) Shares Bought by Summit Global Investments

by · The Cerbat Gem

Summit Global Investments boosted its stake in shares of Valero Energy Co. (NYSE:VLO – Free Report) by 25.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,838 shares of the oil and gas company’s stock after acquiring an additional 16,943 shares during the quarter. Valero Energy comprises 0.8% of Summit Global Investments’ investment portfolio, making the stock its 29th biggest holding. Summit Global Investments’ holdings in Valero Energy were worth $11,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Valero Energy by 4.1% during the 4th quarter. Morgan Stanley now owns 10,065,228 shares of the oil and gas company’s stock worth $1,276,875,000 after acquiring an additional 395,771 shares during the period. Bank of America Corp DE lifted its position in Valero Energy by 96.2% during the 1st quarter. Bank of America Corp DE now owns 9,389,258 shares of the oil and gas company’s stock worth $1,310,740,000 after acquiring an additional 4,604,158 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Valero Energy by 3.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 8,279,603 shares of the oil and gas company’s stock worth $971,197,000 after acquiring an additional 240,664 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Valero Energy by 7.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,128,301 shares of the oil and gas company’s stock worth $718,850,000 after buying an additional 434,057 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Valero Energy during the 4th quarter worth approximately $534,892,000. 77.07% of the stock is owned by institutional investors and hedge funds.

Valero Energy Price Performance

VLO stock opened at $132.30 on Friday. The stock has a 50-day moving average price of $126.21 and a two-hundred day moving average price of $126.67. Valero Energy Co. has a 12-month low of $104.18 and a 12-month high of $152.20. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The company has a market cap of $45.04 billion, a PE ratio of 4.50, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51.

Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $7.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.36 by $0.13. Valero Energy had a return on equity of 39.97% and a net margin of 7.11%. The firm had revenue of $38.40 billion during the quarter, compared to the consensus estimate of $38.46 billion. During the same quarter in the previous year, the business earned $7.14 earnings per share. The firm’s quarterly revenue was down 13.6% compared to the same quarter last year. As a group, research analysts predict that Valero Energy Co. will post 24.65 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Friday, November 17th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Thursday, November 16th. Valero Energy’s payout ratio is 13.91%.

Analysts Set New Price Targets

VLO has been the subject of a number of analyst reports. Mizuho cut their target price on Valero Energy from $174.00 to $159.00 and set a “buy” rating for the company in a research note on Friday, October 6th. Raymond James cut their target price on Valero Energy from $156.00 to $154.00 and set a “strong-buy” rating for the company in a research note on Friday, October 27th. Barclays increased their target price on Valero Energy from $142.00 to $144.00 in a research note on Tuesday, October 3rd. Bank of America increased their target price on Valero Energy from $152.00 to $161.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. Finally, Wells Fargo & Company dropped their price objective on Valero Energy from $144.00 to $141.00 in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.64.

View Our Latest Stock Report on Valero Energy

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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