Valero Energy Co. (NYSE:VLO) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky raised its stake in shares of Valero Energy Co. (NYSE:VLO) by 6.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,033 shares of the oil and gas company’s stock after purchasing an additional 195 shares during the quarter. Independence Bank of Kentucky’s holdings in Valero Energy were worth $475,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of Valero Energy in the second quarter worth $27,000. Lynx Investment Advisory bought a new position in shares of Valero Energy in the 2nd quarter worth about $29,000. Rise Advisors LLC acquired a new position in Valero Energy in the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC acquired a new position in Valero Energy during the 1st quarter valued at approximately $33,000. Finally, First Foundation Advisors acquired a new position in shares of Valero Energy during the first quarter valued at $37,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VLO. Wolfe Research started coverage on shares of Valero Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective on the stock. Mizuho raised Valero Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $165.00 to $175.00 in a research note on Wednesday, July 17th. Piper Sandler decreased their price target on Valero Energy from $187.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company lifted their price objective on shares of Valero Energy from $156.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Argus lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

Valero Energy Stock Up 1.7 %

VLO stock opened at $145.87 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. The firm has a market cap of $47.70 billion, a PE ratio of 7.22, a P/E/G ratio of 2.79 and a beta of 1.42. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79. The firm has a 50 day simple moving average of $151.01 and a 200 day simple moving average of $155.69.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.11. The business had revenue of $34.49 billion during the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $5.40 EPS. Equities research analysts forecast that Valero Energy Co. will post 12.86 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $4.28 annualized dividend and a yield of 2.93%. Valero Energy’s payout ratio is presently 21.20%.

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.