Jennison Associates LLC Has $112.70 Million Stock Holdings in Valero Energy Corporation $VLO

Jennison Associates LLC boosted its position in Valero Energy Corporation (NYSE:VLO) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432,725 shares of the oil and gas company’s stock after buying an additional 19,288 shares during the period. Jennison Associates LLC’s holdings in Valero Energy were worth $112,699,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Friedenthal Financial bought a new stake in Valero Energy during the 4th quarter valued at $954,000. Whittier Trust Co. lifted its stake in shares of Valero Energy by 2.8% in the fourth quarter. Whittier Trust Co. now owns 212,104 shares of the oil and gas company’s stock valued at $37,812,000 after buying an additional 5,694 shares in the last quarter. Sierra Summit Advisors LLC grew its holdings in shares of Valero Energy by 2,325.2% during the fourth quarter. Sierra Summit Advisors LLC now owns 36,378 shares of the oil and gas company’s stock valued at $5,922,000 after buying an additional 34,878 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valero Energy by 846.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,752 shares of the oil and gas company’s stock valued at $2,401,000 after buying an additional 13,194 shares during the last quarter. Finally, North Dakota State Investment Board bought a new stake in shares of Valero Energy during the fourth quarter worth about $1,743,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Valero Energy from $232.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Scotiabank lifted their price target on Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group set a $350.00 price objective on Valero Energy in a report on Monday, August 3rd. Citigroup increased their price objective on Valero Energy from $259.00 to $302.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, TD Cowen raised their target price on Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $288.00.

Insider Buying and Selling

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company’s stock.

Valero Energy Stock Down 0.5%

VLO opened at $341.36 on Friday. Valero Energy Corporation has a fifty-two week low of $135.01 and a fifty-two week high of $346.09. The firm has a market capitalization of $98.29 billion, a P/E ratio of 14.16, a PEG ratio of 0.23 and a beta of 0.55. The company’s 50-day moving average is $283.92 and its 200 day moving average is $247.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company’s revenue was up 48.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 EPS. Research analysts expect that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, July 31st. Valero Energy’s dividend payout ratio (DPR) is 19.92%.

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.