Sumitomo Life Insurance Co. Boosts Position in Valero Energy Co. (NYSE:VLO)

Sumitomo Life Insurance Co. raised its stake in Valero Energy Co. (NYSE:VLO) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,995 shares of the oil and gas company’s stock after purchasing an additional 142 shares during the period. Sumitomo Life Insurance Co.’s holdings in Valero Energy were worth $674,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. EdgeRock Capital LLC purchased a new position in Valero Energy during the 2nd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Valero Energy during the second quarter worth approximately $29,000. Pathway Financial Advisers LLC acquired a new position in shares of Valero Energy in the 1st quarter valued at $33,000. Rise Advisors LLC purchased a new stake in Valero Energy in the 1st quarter valued at $33,000. Finally, Summit Securities Group LLC acquired a new stake in Valero Energy during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Up 0.8 %

VLO opened at $136.65 on Friday. The firm has a market cap of $43.78 billion, a P/E ratio of 7.81, a PEG ratio of 3.75 and a beta of 1.39. The business’s fifty day simple moving average is $140.05 and its 200 day simple moving average is $152.01. Valero Energy Co. has a 52 week low of $119.88 and a 52 week high of $184.79. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The business had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.40 earnings per share. As a group, equities research analysts anticipate that Valero Energy Co. will post 9.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on VLO shares. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Bank of America assumed coverage on shares of Valero Energy in a report on Thursday. They issued a “neutral” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company upgraded Valero Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $172.00 to $165.00 in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.60.

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.