Valero Energy Corporation $VLO Stock Position Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in shares of Valero Energy Corporation (NYSE:VLO) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,547 shares of the oil and gas company’s stock after purchasing an additional 3,352 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Valero Energy were worth $42,074,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bank of America Corp DE grew its position in Valero Energy by 11.4% during the first quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock valued at $1,243,630,000 after acquiring an additional 516,975 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Valero Energy by 9.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock valued at $733,660,000 after purchasing an additional 254,604 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Valero Energy by 18.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock valued at $702,285,000 after purchasing an additional 442,177 shares during the last quarter. Amundi grew its holdings in shares of Valero Energy by 45.3% during the 1st quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after purchasing an additional 806,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Valero Energy by 33.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after purchasing an additional 520,642 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VLO shares. Erste Group Bank downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings raised Valero Energy from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 29th. Freedom Broker downgraded Valero Energy from a “hold” rating to a “sell” rating and set a $276.00 price objective on the stock. in a report on Friday, October 23rd. Jefferies Financial Group lowered their target price on Valero Energy from $401.00 to $394.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Finally, Piper Sandler boosted their target price on Valero Energy from $329.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $406.32.

Valero Energy News Roundup

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: A recent analysis cited Valero’s access to lower-cost heavy crude, strong refining margins, balance sheet and valuation as reasons it may remain attractive. Valero Energy Surges 113% YTD: Should Investors Bet on the Momentum?
• Positive Sentiment: Zacks included VLO in its Strong Buy growth-stock selections, adding to the bullish analyst coverage from the prior day. Best Growth Stocks to Buy for November 9th
• Positive Sentiment: Another Zacks article named Valero among five growth stocks to consider, supporting the view that its refining performance could continue to benefit investors. Buy 5 Growth Stocks to Enhance Your Portfolio Returns in November
• Negative Sentiment: Cramer said Valero’s two-year refining-cycle rally may have run its course and advised shareholders to take profits before margins normalize further. This is an opinion-based sell call, not a change in the company’s reported fundamentals, but it may add near-term pressure to the stock. Cramer Recommends Selling Valero Energy Stock

Valero Energy Stock Down 1.8%

Shares of Valero Energy stock opened at $350.17 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.72. Valero Energy Corporation has a 52-week low of $159.90 and a 52-week high of $461.52. The company’s 50 day moving average price is $399.49 and its 200-day moving average price is $291.27. The stock has a market capitalization of $97.66 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.18 and a beta of 0.58.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The company had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.66 EPS. Equities research analysts forecast that Valero Energy Corporation will post 57.83 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be given a $1.20 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. Valero Energy’s payout ratio is presently 10.80%.

About Valero Energy

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.