Lewis Asset Management LLC Grows Stock Position in Valero Energy Co. (NYSE:VLO)

Lewis Asset Management LLC raised its holdings in Valero Energy Co. (NYSE:VLO) by 3.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,428 shares of the oil and gas company’s stock after acquiring an additional 181 shares during the period. Lewis Asset Management LLC’s holdings in Valero Energy were worth $733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VLO. EdgeRock Capital LLC acquired a new position in Valero Energy during the second quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Valero Energy in the 2nd quarter worth $29,000. Summit Securities Group LLC acquired a new position in Valero Energy in the second quarter valued at $31,000. Pathway Financial Advisers LLC purchased a new stake in Valero Energy during the first quarter valued at about $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Valero Energy during the third quarter worth about $34,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Down 1.9 %

NYSE:VLO opened at $136.11 on Friday. The stock has a 50-day simple moving average of $136.20 and a 200 day simple moving average of $147.77. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79. The company has a market capitalization of $43.09 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same period in the previous year, the business earned $7.49 EPS. The business’s quarterly revenue was down 14.4% on a year-over-year basis. Sell-side analysts predict that Valero Energy Co. will post 9.21 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $172.00 to $165.00 in a research report on Wednesday, October 9th. Scotiabank reduced their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup lowered their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Finally, Wolfe Research assumed coverage on shares of Valero Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.29.

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.