1ST Source Bank Buys 1,483 Shares of Valero Energy Co. (NYSE:VLO)

1ST Source Bank raised its stake in shares of Valero Energy Co. (NYSE:VLO) by 55.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,151 shares of the oil and gas company’s stock after buying an additional 1,483 shares during the quarter. 1ST Source Bank’s holdings in Valero Energy were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VLO. Norges Bank purchased a new position in shares of Valero Energy in the 4th quarter worth about $570,428,000. Acadian Asset Management LLC raised its holdings in Valero Energy by 37.6% in the first quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock worth $266,040,000 after buying an additional 426,093 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Valero Energy by 721.4% in the fourth quarter. Bank of Nova Scotia now owns 337,911 shares of the oil and gas company’s stock worth $43,927,000 after buying an additional 296,771 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Valero Energy during the first quarter valued at approximately $39,517,000. Finally, Ninety One UK Ltd increased its position in shares of Valero Energy by 124.7% during the second quarter. Ninety One UK Ltd now owns 291,856 shares of the oil and gas company’s stock valued at $45,751,000 after acquiring an additional 161,982 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on VLO shares. Wells Fargo & Company increased their target price on Valero Energy from $165.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 3rd. Barclays dropped their price objective on Valero Energy from $171.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. StockNews.com lowered Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Mizuho raised shares of Valero Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $165.00 to $175.00 in a report on Wednesday, July 17th. Finally, Wolfe Research began coverage on shares of Valero Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued 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.com, Valero Energy presently has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $134.26 on Friday. The stock’s fifty day moving average is $146.50 and its 200 day moving average is $155.37. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market cap of $43.01 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.73 and a beta of 1.40.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm had revenue of $34.49 billion for the quarter, compared to analysts’ expectations of $32.97 billion. During the same period in the previous year, the firm earned $5.40 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Co. will post 12.3 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.19%. Valero Energy’s payout ratio is 21.20%.

Valero Energy Company 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.