Horizon Bancorp Inc. IN Makes New $134,000 Investment in Valero Energy Corporation $VLO

Horizon Bancorp Inc. IN bought a new position in shares of Valero Energy Corporation (NYSE:VLO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the oil and gas company’s stock, valued at approximately $134,000.

Several other institutional investors have also recently bought and sold shares of VLO. Price T Rowe Associates Inc. MD raised its stake in Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after acquiring an additional 7,931,018 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the last quarter. Nuveen LLC bought a new stake in shares of Valero Energy during the first quarter worth about $529,864,000. Invesco Ltd. grew its holdings in shares of Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VLO shares. Wolfe Research cut Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. TD Cowen cut Valero Energy from a “buy” rating to a “hold” rating and boosted their price target for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Valero Energy in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus price target of $168.07.

Valero Energy Price Performance

Valero Energy stock opened at $162.00 on Friday. The stock has a market capitalization of $50.33 billion, a price-to-earnings ratio of 67.50, a PEG ratio of 1.73 and a beta of 1.05. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $178.43. The stock’s 50 day moving average price is $152.95 and its two-hundred day moving average price is $137.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data 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 company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 EPS. On average, equities analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. Valero Energy’s dividend payout ratio (DPR) is 188.33%.

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.