Truvestments Capital LLC Acquires New Holdings in Valero Energy Co. (NYSE:VLO)

Truvestments Capital LLC bought a new position in Valero Energy Co. (NYSE:VLO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,300 shares of the oil and gas company’s stock, valued at approximately $176,000.

Several other hedge funds have also modified their holdings of VLO. Brown Brothers Harriman & Co. boosted its stake in Valero Energy by 57.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,701 shares of the oil and gas company’s stock valued at $635,000 after acquiring an additional 1,722 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Valero Energy in the 3rd quarter worth $1,077,000. Fisher Asset Management LLC grew its stake in Valero Energy by 89.1% during the 3rd quarter. Fisher Asset Management LLC now owns 16,855 shares of the oil and gas company’s stock worth $2,276,000 after buying an additional 7,942 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Valero Energy by 10.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 39,708 shares of the oil and gas company’s stock valued at $5,362,000 after buying an additional 3,829 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Valero Energy by 9.2% in the third quarter. Summit Trail Advisors LLC now owns 3,597 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 302 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on VLO. Mizuho decreased their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group decreased their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $172.00 to $165.00 in a research report on Wednesday, October 9th. BMO Capital Markets cut their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, TD Cowen lowered their price objective on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.86.

Valero Energy Stock Performance

NYSE VLO opened at $139.82 on Wednesday. The company has a market cap of $44.26 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.61 and a beta of 1.39. Valero Energy Co. has a 1-year low of $120.21 and a 1-year high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a 50-day moving average of $136.79 and a two-hundred day moving average of $145.56.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (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 analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.49 EPS. As a group, analysts anticipate that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s payout ratio is presently 38.39%.

About Valero Energy

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.