New Wave Wealth Advisors LLC Makes New $1.04 Million Investment in Valero Energy Corporation $VLO

New Wave Wealth Advisors LLC purchased a new stake in Valero Energy Corporation (NYSE:VLO) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,683 shares of the oil and gas company’s stock, valued at approximately $1,040,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in Valero Energy by 1.0% in the 3rd quarter. Grove Bank & Trust now owns 2,608 shares of the oil and gas company’s stock worth $1,011,000 after purchasing an additional 25 shares in the last quarter. Cornerstone Financial Management LLC lifted its position in shares of Valero Energy by 57.6% in the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 38 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Valero Energy by 0.6% during the 1st quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 42 shares in the last quarter. Bouchey Financial Group Ltd. boosted its stake in shares of Valero Energy by 4.6% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,016 shares of the oil and gas company’s stock valued at $265,000 after purchasing an additional 45 shares in the last quarter. Finally, M.E. Allison & CO. Inc. increased its position in shares of Valero Energy by 5.8% during the second quarter. M.E. Allison & CO. Inc. now owns 916 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 50 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 1.2%

NYSE:VLO traded down $5.23 during mid-day trading on Monday, hitting $439.48. 978,018 shares of the company’s stock were exchanged, compared to its average volume of 3,304,504. The company has a market cap of $126.54 billion, a PE ratio of 18.24, a P/E/G ratio of 0.29 and a beta of 0.59. 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 one year low of $156.26 and a one year high of $461.52. The business has a fifty day moving average price of $383.13 and a 200 day moving average price of $304.08.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The business’s revenue for the quarter was up 48.8% on a year-over-year basis. Equities analysts predict that Valero Energy Corporation will post 51.77 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on VLO. Wells Fargo & Company increased their price target on shares of Valero Energy from $389.00 to $485.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Barclays increased their target price on Valero Energy from $323.00 to $441.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Bank of America increased their target price on Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings upgraded Valero Energy from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $382.62.

Valero Energy Company Profile

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. The company’s primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.

Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.

In addition to conventional refining, Valero has businesses focused on renewable fuels.