NewEdge Wealth LLC Has $340,000 Position in Valero Energy Co. (NYSE:VLO)

NewEdge Wealth LLC reduced its holdings in Valero Energy Co. (NYSE:VLO) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,613 shares of the oil and gas company’s stock after selling 293 shares during the quarter. NewEdge Wealth LLC’s holdings in Valero Energy were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blair William & Co. IL grew its position in Valero Energy by 1.9% during the first quarter. Blair William & Co. IL now owns 33,427 shares of the oil and gas company’s stock worth $3,394,000 after buying an additional 632 shares in the last quarter. Sei Investments Co. grew its position in Valero Energy by 21.7% during the first quarter. Sei Investments Co. now owns 100,006 shares of the oil and gas company’s stock worth $10,163,000 after buying an additional 17,844 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Valero Energy by 12.5% during the first quarter. Canada Pension Plan Investment Board now owns 60,730 shares of the oil and gas company’s stock worth $6,167,000 after buying an additional 6,735 shares in the last quarter. Prudential PLC acquired a new stake in Valero Energy during the first quarter worth about $1,253,000. Finally, Moors & Cabot Inc. grew its position in Valero Energy by 21.0% during the first quarter. Moors & Cabot Inc. now owns 6,780 shares of the oil and gas company’s stock worth $688,000 after buying an additional 1,179 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

NYSE:VLO opened at $167.26 on Thursday. Valero Energy Co. has a 1 year low of $104.18 and a 1 year high of $184.79. The firm has a 50 day moving average of $157.71 and a 200-day moving average of $138.95. The company has a current ratio of 1.56, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $55.61 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.54.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.60. Valero Energy had a net margin of 6.10% and a return on equity of 31.62%. The firm had revenue of $35.41 billion during the quarter, compared to analysts’ expectations of $34.76 billion. During the same quarter in the previous year, the company posted $8.45 EPS. Valero Energy’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Valero Energy Co. will post 17.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VLO shares. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $156.00 to $210.00 in a report on Friday, March 15th. Scotiabank lifted their price objective on Valero Energy from $138.00 to $165.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Raymond James lifted their price objective on Valero Energy from $154.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, January 26th. Piper Sandler lifted their price objective on Valero Energy from $161.00 to $198.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Finally, Barclays lifted their price objective on Valero Energy from $149.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and an average target price of $172.40.

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.