Massachusetts Financial Services Co. MA Raises Holdings in Valero Energy Corporation $VLO

Massachusetts Financial Services Co. MA lifted its position in shares of Valero Energy Corporation (NYSE:VLO) by 4.0% in the 2nd quarter, Holdings Channel reports. The fund owned 1,703,432 shares of the oil and gas company’s stock after buying an additional 66,019 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Valero Energy were worth $228,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hoey Investments Inc. bought a new position in Valero Energy during the second quarter worth about $26,000. GFG Capital LLC purchased a new stake in shares of Valero Energy during the 2nd quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Valero Energy by 156.6% during 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 in the last quarter. Hantz Financial Services Inc. boosted its holdings in Valero Energy by 1,277.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after buying an additional 230 shares during the period. Finally, Hemington Wealth Management grew its stake in Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 95 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

NYSE:VLO opened at $181.63 on Monday. The stock has a market cap of $55.40 billion, a P/E ratio of 37.92, a PEG ratio of 1.77 and a beta of 1.01. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $166.75 and its two-hundred day moving average price is $147.82. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $183.93.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The business had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 billion. During the same period last year, the firm posted $1.14 earnings per share. Valero Energy’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, November 20th. Valero Energy’s dividend payout ratio is currently 94.36%.

Analyst Ratings Changes

Several equities research analysts have issued reports on VLO shares. Piper Sandler increased their target price on Valero Energy from $201.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley cut Valero Energy from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $160.00 to $175.00 in a research report on Friday, October 3rd. Erste Group Bank assumed coverage on Valero Energy in a report on Monday, November 10th. They set a “buy” rating on the stock. Barclays raised their target price on Valero Energy from $151.00 to $169.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price target on Valero Energy from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.00.

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.