Valero Energy Co. (NYSE:VLO) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lifted its stake in shares of Valero Energy Co. (NYSE:VLO) by 136.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,117 shares of the oil and gas company’s stock after acquiring an additional 43,299 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Valero Energy were worth $10,143,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in VLO. EdgeRock Capital LLC bought a new position in Valero Energy during the second quarter worth about $27,000. Peterson Financial Group Inc. acquired a new stake in shares of Valero Energy in the 3rd quarter valued at about $28,000. Lynx Investment Advisory bought a new position in shares of Valero Energy during the 2nd quarter worth approximately $29,000. Summit Securities Group LLC bought a new stake in Valero Energy during the 2nd quarter valued at $31,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in Valero Energy in the third quarter worth $34,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $140.14 on Tuesday. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $136.92 and its 200-day moving average price is $145.19. The firm has a market capitalization of $44.37 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.60 and a beta of 1.40.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.49 earnings per share. Sell-side analysts forecast that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analyst Weigh In

VLO has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a report on Monday, September 16th. Citigroup reduced their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $169.00 to $123.00 in a report on Friday, September 20th. TD Cowen lowered their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Mizuho lowered their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Profile

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.