Valero Energy Corporation $VLO Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its stake in shares of Valero Energy Corporation (NYSE:VLO) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,856 shares of the oil and gas company’s stock after buying an additional 392 shares during the period. Belpointe Asset Management LLC’s holdings in Valero Energy were worth $922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Valero Energy during the first quarter worth $26,000. Hoey Investments Inc. acquired a new stake in shares of Valero Energy during the second quarter worth $26,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after buying an additional 130 shares during the period. Hemington Wealth Management lifted its stake in shares of Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company’s stock worth $43,000 after buying an additional 95 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Valero Energy during the first quarter worth $43,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Trading Down 0.5%

VLO stock opened at $162.41 on Thursday. The company’s 50-day simple moving average is $152.45 and its 200-day simple moving average is $137.53. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $178.43. The firm has a market cap of $50.45 billion, a P/E ratio of 67.67, a PEG ratio of 1.74 and a beta of 1.05.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy’s dividend payout ratio is 188.33%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VLO. Mizuho boosted their target price on shares of Valero Energy from $166.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Bank of America raised shares of Valero Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $152.00 to $179.00 in a report on Wednesday, September 3rd. Piper Sandler upped their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Valero Energy in a report on Wednesday. Finally, TD Cowen lowered shares of Valero Energy from a “buy” rating to a “hold” rating and upped their price target for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.07.

About Valero Energy

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.