Carnegie Capital Asset Management LLC Increases Stock Position in Valero Energy Co. (NYSE:VLO)

Carnegie Capital Asset Management LLC raised its position in shares of Valero Energy Co. (NYSE:VLO) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,908 shares of the oil and gas company’s stock after buying an additional 613 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Valero Energy were worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Valero Energy in the 3rd quarter worth about $28,000. BKM Wealth Management LLC purchased a new position in shares of Valero Energy in the 4th quarter worth about $26,000. Live Oak Investment Partners bought a new stake in Valero Energy in the 4th quarter worth about $26,000. Quarry LP increased its holdings in Valero Energy by 1,676.9% in the 1st quarter. Quarry LP now owns 231 shares of the oil and gas company’s stock worth $32,000 after buying an additional 218 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Valero Energy in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO stock opened at $169.00 on Wednesday. Valero Energy Co. has a 1-year low of $104.18 and a 1-year high of $184.79. The stock’s 50-day moving average is $157.18 and its 200 day moving average is $138.75. The company has a market cap of $56.19 billion, a P/E ratio of 6.83, a PEG ratio of 1.65 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.56 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results 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. The business had revenue of $35.41 billion during the quarter, compared to the consensus estimate of $34.76 billion. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $8.45 earnings per share. Research analysts predict that Valero Energy Co. will post 17.25 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Thursday, February 1st were issued a dividend of $1.07 per share. This is an increase from Valero Energy’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.53%. Valero Energy’s payout ratio is 17.31%.

Analyst Ratings Changes

VLO has been the subject of several research analyst reports. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $210.00 in a report on Friday, March 15th. TD Cowen lifted their price objective on Valero Energy from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays lifted their price objective on Valero Energy from $149.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Piper Sandler lifted their price objective on Valero Energy from $161.00 to $198.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Finally, Scotiabank lifted their price objective on Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Valero Energy has an average rating of “Moderate Buy” and an average price target of $172.40.

Valero Energy Company 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.