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

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

Other hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in Valero Energy during the 2nd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new position in shares of Valero Energy during the second quarter worth $29,000. Summit Securities Group LLC bought a new stake in Valero Energy in the second quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in Valero Energy during the third quarter worth about $28,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in Valero Energy in the third quarter valued at about $34,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Trading Up 0.8 %

VLO opened at $140.14 on Tuesday. The company’s 50 day moving average price is $136.92 and its two-hundred day moving average price is $145.19. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly 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 analysts’ expectations of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.49 EPS. As a group, research analysts predict that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company 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 dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is 38.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup dropped their target price 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. The Goldman Sachs Group cut their price objective 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. Bank of America started coverage on Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price on the stock. Scotiabank reduced their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.