Newman Dignan & Sheerar Inc. Buys Shares of 1,596 Valero Energy Corporation $VLO

Newman Dignan & Sheerar Inc. bought a new stake in Valero Energy Corporation (NYSE:VLO) during the second quarter, Holdings Channel.com reports. The fund bought 1,596 shares of the oil and gas company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new stake in Valero Energy in the 2nd quarter valued at approximately $26,000. Wayfinding Financial LLC acquired a new stake in Valero Energy in the 1st quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its holdings in Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 130 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Valero Energy in the 1st quarter valued at approximately $43,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in Valero Energy in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Valero Energy stock opened at $164.57 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company has a market capitalization of $51.12 billion, a PE ratio of 68.57, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. Valero Energy Corporation has a one year low of $99.00 and a one year high of $178.43. The business has a 50 day simple moving average of $150.88 and a 200 day simple moving average of $136.73.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.Valero Energy’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. On average, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 2.7%. Valero Energy’s payout ratio is presently 188.33%.

Wall Street Analyst Weigh In

A number of brokerages have commented on VLO. Piper Sandler raised their price objective on Valero Energy from $171.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Morgan Stanley raised their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Finally, Raymond James Financial raised their price objective on Valero Energy from $170.00 to $177.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.00.

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.