Daiwa Securities Group Inc. Boosts Holdings in Valero Energy Co. (NYSE:VLO)

Daiwa Securities Group Inc. boosted its position in shares of Valero Energy Co. (NYSE:VLO) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,708 shares of the oil and gas company’s stock after purchasing an additional 3,829 shares during the period. Daiwa Securities Group Inc.’s holdings in Valero Energy were worth $5,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VLO. EdgeRock Capital LLC purchased a new position in Valero Energy in the 2nd quarter valued at about $27,000. Peterson Financial Group Inc. acquired a new position in shares of Valero Energy in the third quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Valero Energy in the second quarter valued at about $29,000. Summit Securities Group LLC acquired a new stake in Valero Energy during the 2nd quarter valued at approximately $31,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Valero Energy during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO opened at $139.82 on Wednesday. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a fifty day moving average price of $136.79 and a 200 day moving average price of $145.56. The company has a market cap of $44.26 billion, a P/E ratio of 12.54, a PEG ratio of 2.63 and a beta of 1.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.49 earnings per share. On average, research analysts forecast that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Dividend Announcement

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 dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.06%. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analyst Weigh In

VLO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Scotiabank dropped their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler cut shares of 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. BMO Capital Markets lowered their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $172.00 to $165.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

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.