Shorepoint Capital Partners LLC Acquires New Shares in Valero Energy Corporation $VLO

Shorepoint Capital Partners LLC bought a new stake in shares of Valero Energy Corporation (NYSE:VLO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,373 shares of the oil and gas company’s stock, valued at approximately $1,766,000.

A number of other large investors have also recently made changes to their positions in VLO. Broadway Wealth Solutions Inc. raised its stake in shares of Valero Energy by 3.8% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 69 shares during the period. Financial Advisors Network Inc. grew its holdings in Valero Energy by 1.6% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,774 shares of the oil and gas company’s stock valued at $642,000 after buying an additional 74 shares in the last quarter. Park Place Capital Corp increased its position in shares of Valero Energy by 21.8% during the second quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 75 shares during the period. Generali Investments Management Co LLC lifted its holdings in shares of Valero Energy by 3.7% in the second quarter. Generali Investments Management Co LLC now owns 2,137 shares of the oil and gas company’s stock worth $287,000 after buying an additional 76 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in shares of Valero Energy by 1.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock valued at $732,000 after acquiring an additional 78 shares during the period. 78.69% of the stock is owned by institutional investors.

Valero Energy Trading Down 0.3%

VLO stock opened at $167.85 on Tuesday. The company has a market capitalization of $51.20 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 1.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. Valero Energy Corporation has a one year low of $99.00 and a one year high of $185.62. The company’s 50 day moving average price is $171.22 and its two-hundred day moving average price is $154.95.

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

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th will be issued a $1.13 dividend. The ex-dividend date is Thursday, November 20th. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. Valero Energy’s payout ratio is currently 94.36%.

Insiders Place Their Bets

In related news, CFO Jason W. Fraser sold 9,933 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the completion of the sale, the chief financial officer directly owned 134,196 shares in the company, valued at $23,352,787.92. This represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on VLO shares. Erste Group Bank assumed coverage on shares of Valero Energy in a report on Monday, November 10th. They set a “buy” rating on the stock. Bank of America reiterated a “neutral” rating and issued a $195.00 price objective (down previously from $198.00) on shares of Valero Energy in a research report on Thursday, December 11th. Raymond James Financial restated a “strong-buy” rating and issued a $195.00 target price (up from $181.00) on shares of Valero Energy in a research note on Friday, October 24th. Wall Street Zen lowered Valero Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Wells Fargo & Company lifted their target price on shares of Valero Energy from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.20.

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.