Franklin Resources Inc. Boosts Stake in Valero Energy Corporation $VLO

Franklin Resources Inc. raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,024,322 shares of the oil and gas company’s stock after acquiring an additional 148,195 shares during the quarter. Franklin Resources Inc. owned approximately 1.62% of Valero Energy worth $675,369,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Broadway Wealth Solutions Inc. grew its stake in Valero Energy by 3.8% in the second quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 69 shares during the last quarter. Park Place Capital Corp boosted its holdings in shares of Valero Energy by 21.8% in the 2nd quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 75 shares in the last quarter. Generali Investments Management Co LLC raised its stake in shares of Valero Energy by 3.7% during the 2nd quarter. Generali Investments Management Co LLC now owns 2,137 shares of the oil and gas company’s stock worth $287,000 after acquiring an additional 76 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Valero Energy by 1.4% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock valued at $732,000 after acquiring an additional 78 shares during the last quarter. Finally, Summit Financial LLC boosted its stake in Valero Energy by 4.6% in the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company’s stock valued at $239,000 after acquiring an additional 79 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Trading Up 1.5%

Valero Energy stock opened at $173.46 on Friday. The stock has a 50-day moving average price of $168.69 and a 200 day moving average price of $149.49. The company has a market capitalization of $52.91 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $185.62. 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 issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The company had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 billion. During the same quarter in the prior year, the company earned $1.14 EPS. Valero Energy’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VLO. Piper Sandler upped their price target on Valero Energy from $201.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Mizuho increased their price target on Valero Energy from $166.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Wells Fargo & Company raised their price target on Valero Energy from $216.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Erste Group Bank assumed coverage on Valero Energy in a research note on Monday, November 10th. They set a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Valero Energy in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

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.