Triad Wealth Partners LLC Acquires New Position in Valero Energy Corporation $VLO

Triad Wealth Partners LLC bought a new position in shares of Valero Energy Corporation (NYSE:VLO) during the third quarter, Holdings Channel reports. The fund bought 9,609 shares of the oil and gas company’s stock, valued at approximately $1,636,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Valero Energy during the 2nd quarter worth approximately $827,390,000. Geode Capital Management LLC grew its position in Valero Energy by 16.7% in the second quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company’s stock worth $1,089,897,000 after acquiring an additional 1,164,217 shares during the period. American Century Companies Inc. increased its stake in Valero Energy by 162.5% during the second quarter. American Century Companies Inc. now owns 523,692 shares of the oil and gas company’s stock worth $70,395,000 after acquiring an additional 324,174 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Valero Energy by 2.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company’s stock valued at $1,576,035,000 after purchasing an additional 286,942 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Valero Energy by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,706,187 shares of the oil and gas company’s stock worth $286,076,000 after purchasing an additional 256,373 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Insider Buying and Selling

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $174.02, for a total value of $1,728,540.66. Following the sale, the chief financial officer directly owned 134,196 shares of the company’s stock, valued at approximately $23,352,787.92. This represents a 6.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is owned by company insiders.

Valero Energy Price Performance

Shares of NYSE VLO opened at $188.21 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09. The company has a market cap of $57.41 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 1.10 and a beta of 0.77. The stock’s 50-day moving average is $174.40 and its two-hundred day moving average is $162.03. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $193.33.

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

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 20th were paid a $1.13 dividend. The ex-dividend date was Thursday, November 20th. This represents a $4.52 dividend on an annualized basis and a yield of 2.4%. Valero Energy’s payout ratio is currently 94.36%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VLO. JPMorgan Chase & Co. increased their target price on shares of Valero Energy from $197.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Erste Group Bank started coverage on shares of Valero Energy in a report on Monday, November 10th. They issued a “buy” rating on the stock. TD Cowen lifted their target price on shares of Valero Energy from $162.00 to $165.00 and gave the company a “hold” rating in a report on Friday, October 24th. Wells Fargo & Company boosted their target price on Valero Energy from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Barclays raised their price target on Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $183.00.

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.