Jessup Wealth Management Inc Takes Position in Valero Energy Co. (NYSE:VLO)

Jessup Wealth Management Inc bought a new position in shares of Valero Energy Co. (NYSE:VLO) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,389 shares of the oil and gas company’s stock, valued at approximately $4,504,000. Valero Energy accounts for about 1.9% of Jessup Wealth Management Inc’s portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also bought and sold shares of VLO. Pasadena Private Wealth LLC purchased a new position in shares of Valero Energy during the first quarter worth about $229,000. Overbrook Management Corp bought a new stake in shares of Valero Energy during the 1st quarter worth $4,611,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Valero Energy by 31.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 106,046 shares of the oil and gas company’s stock valued at $18,101,000 after purchasing an additional 25,219 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in Valero Energy by 18.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,745 shares of the oil and gas company’s stock worth $810,000 after buying an additional 737 shares during the last quarter. Finally, St. Johns Investment Management Company LLC boosted its stake in shares of Valero Energy by 7.2% in the 1st quarter. St. Johns Investment Management Company LLC now owns 4,996 shares of the oil and gas company’s stock valued at $853,000 after purchasing an additional 334 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of VLO traded up $1.93 during mid-day trading on Friday, reaching $155.97. The stock had a trading volume of 890,313 shares, compared to its average volume of 3,123,492. The business has a fifty day moving average of $157.66 and a 200 day moving average of $149.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.59. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.53 and a beta of 1.47. Valero Energy Co. has a 12 month low of $112.16 and a 12 month high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. The business had revenue of $31.76 billion during the quarter, compared to analyst estimates of $32.02 billion. Valero Energy had a return on equity of 24.82% and a net margin of 5.01%. Valero Energy’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.27 EPS. Equities analysts predict that Valero Energy Co. will post 16.75 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 30th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, May 30th. Valero Energy’s payout ratio is currently 21.20%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VLO shares. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $156.00 to $210.00 in a research note on Friday, March 15th. UBS Group lifted their target price on shares of Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Mizuho lowered their price objective on Valero Energy from $176.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company cut their price objective on shares of Valero Energy from $184.00 to $179.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. Finally, Piper Sandler lowered their target price on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $172.00.

Insider Transactions at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $158.12, for a total transaction of $113,846.40. Following the completion of the transaction, the director now owns 13,314 shares of the company’s stock, valued at approximately $2,105,209.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

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.