Summit Global Investments Grows Holdings in Valero Energy Co. (NYSE:VLO)

Summit Global Investments increased its position in Valero Energy Co. (NYSE:VLO) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,785 shares of the oil and gas company’s stock after acquiring an additional 9,947 shares during the quarter. Valero Energy comprises approximately 0.8% of Summit Global Investments’ holdings, making the stock its 27th biggest position. Summit Global Investments’ holdings in Valero Energy were worth $12,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Valero Energy in the 3rd quarter worth approximately $28,000. BKM Wealth Management LLC purchased a new stake in Valero Energy in the 4th quarter worth approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Valero Energy in the 4th quarter worth approximately $36,000. FSC Wealth Advisors LLC purchased a new stake in Valero Energy in the 4th quarter worth approximately $38,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in Valero Energy during the 3rd quarter valued at approximately $42,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Valero Energy from $161.00 to $198.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group increased their price objective on shares of Valero Energy from $130.00 to $171.00 and gave the company a “sell” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on shares of Valero Energy from $177.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company increased their price objective on shares of Valero Energy from $171.00 to $184.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, UBS Group increased their price objective on shares of Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and an average target price of $174.40.

Valero Energy Trading Up 1.1 %

Shares of VLO traded up $1.66 during trading hours on Thursday, reaching $157.32. 1,724,122 shares of the company traded hands, compared to its average volume of 3,276,509. The firm has a market cap of $52.31 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 1.46 and a beta of 1.55. Valero Energy Co. has a 12-month low of $104.18 and a 12-month high of $184.79. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $162.49 and its 200 day moving average price is $141.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The company had revenue of $31.76 billion during the quarter, compared to analyst estimates of $32.02 billion. During the same period in the prior year, the firm earned $8.27 earnings per share. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. Sell-side analysts forecast that Valero Energy Co. will post 18.3 earnings per share for the current year.

About Valero Energy

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.