Greenland Capital Management LP Buys Shares of 1,530 Valero Energy Corporation $VLO

Greenland Capital Management LP bought a new position in shares of Valero Energy Corporation (NYSE:VLO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,530 shares of the oil and gas company’s stock, valued at approximately $398,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in Valero Energy by 0.9% during the 4th quarter. State Street Corp now owns 18,177,191 shares of the oil and gas company’s stock worth $2,959,065,000 after purchasing an additional 163,975 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Valero Energy by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,982 shares of the oil and gas company’s stock valued at $1,945,500,000 after acquiring an additional 63,919 shares during the period. Norges Bank bought a new position in shares of Valero Energy in the fourth quarter valued at approximately $1,111,542,000. Franklin Resources Inc. grew its stake in Valero Energy by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock valued at $922,728,000 after acquiring an additional 394,693 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Valero Energy by 11.4% during the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after acquiring an additional 516,975 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Up 2.3%

Shares of Valero Energy stock opened at $349.27 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. Valero Energy Corporation has a 1 year low of $140.13 and a 1 year high of $352.70. The firm has a market cap of $100.57 billion, a PE ratio of 14.49, a PEG ratio of 0.23 and a beta of 0.55. The company has a 50 day simple moving average of $292.93 and a two-hundred day simple moving average of $253.69.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. Analysts expect that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. Valero Energy’s dividend payout ratio is currently 19.92%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VLO. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. TD Cowen upped their price target on shares of Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Jefferies Financial Group set a $350.00 price objective on Valero Energy in a research report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and set a $329.00 price objective on shares of Valero Energy in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group boosted their target price on Valero Energy from $286.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $288.00.

Insider Buying and Selling

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the sale, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.