Cidel Asset Management Inc. Acquires 807 Shares of Valero Energy Corporation $VLO

Cidel Asset Management Inc. grew its position in shares of Valero Energy Corporation (NYSE:VLO) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,487 shares of the oil and gas company’s stock after acquiring an additional 807 shares during the quarter. Cidel Asset Management Inc.’s holdings in Valero Energy were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in shares of Valero Energy by 18.5% during the first quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company’s stock valued at $2,959,000 after acquiring an additional 3,503 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of Valero Energy by 8.9% during the first quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company’s stock valued at $6,138,000 after acquiring an additional 3,790 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Valero Energy during the first quarter valued at approximately $766,000. FORA Capital LLC bought a new stake in shares of Valero Energy during the first quarter valued at approximately $866,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Valero Energy by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 560,495 shares of the oil and gas company’s stock valued at $74,025,000 after acquiring an additional 56,274 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Trading Up 0.8%

Shares of Valero Energy stock opened at $157.62 on Friday. The stock has a fifty day simple moving average of $155.99 and a 200 day simple moving average of $138.88. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43. The company has a market capitalization of $48.96 billion, a P/E ratio of 65.68, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VLO shares. TD Cowen downgraded Valero Energy from a “buy” rating to a “hold” rating and boosted their price objective for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI upped their price target on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Morgan Stanley downgraded Valero Energy from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $160.00 to $175.00 in a report on Friday, October 3rd. Finally, Mizuho upped their price target on Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.27.

About Valero Energy

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.