AE Wealth Management LLC Increases Position in Valero Energy Corporation $VLO

AE Wealth Management LLC boosted its holdings in Valero Energy Corporation (NYSE:VLO) by 1,421.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,066 shares of the oil and gas company’s stock after purchasing an additional 150,477 shares during the period. AE Wealth Management LLC owned about 0.05% of Valero Energy worth $21,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after buying an additional 7,931,018 shares in the last quarter. Vanguard Group Inc. raised its holdings in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock valued at $5,135,043,000 after acquiring an additional 4,155,522 shares in the last quarter. Nuveen LLC bought a new position in Valero Energy during the 1st quarter valued at $529,864,000. Invesco Ltd. grew its holdings in Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock worth $647,823,000 after acquiring an additional 1,247,196 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Valero Energy by 6.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of NYSE VLO opened at $175.22 on Friday. The stock has a market cap of $53.44 billion, a P/E ratio of 36.58, a P/E/G ratio of 1.77 and a beta of 1.01. The firm’s 50-day simple moving average is $164.33 and its 200 day simple moving average is $145.34. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $179.10. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.15 by $0.51. The firm had revenue of $32.17 billion for the quarter, compared to analysts’ expectations of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. Valero Energy’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. Equities analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $4.52 annualized dividend and a yield of 2.6%. Valero Energy’s payout ratio is presently 94.36%.

Analysts Set New Price Targets

VLO has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Raymond James Financial reissued a “strong-buy” rating and set a $195.00 price target (up from $181.00) on shares of Valero Energy in a research report on Friday, October 24th. Piper Sandler raised their price objective on Valero Energy from $200.00 to $201.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Morgan Stanley lowered shares of Valero Energy from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $179.27.

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.