Cornerstone Advisors LLC Raises Stock Position in Valero Energy Co. (NYSE:VLO)

Cornerstone Advisors LLC grew its position in Valero Energy Co. (NYSE:VLO) by 55.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,600 shares of the oil and gas company’s stock after buying an additional 2,700 shares during the period. Cornerstone Advisors LLC’s holdings in Valero Energy were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in Valero Energy in the second quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of Valero Energy in the 3rd quarter valued at $28,000. Lynx Investment Advisory purchased a new position in shares of Valero Energy during the 2nd quarter worth $29,000. Summit Securities Group LLC acquired a new stake in shares of Valero Energy during the 2nd quarter worth about $31,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Trading Up 0.1 %

NYSE VLO opened at $141.41 on Friday. Valero Energy Co. has a 52 week low of $120.21 and a 52 week high of $184.79. The firm has a 50 day moving average of $136.46 and a two-hundred day moving average of $146.09. The stock has a market capitalization of $44.77 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.39. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The firm had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.49 earnings per share. As a group, research analysts expect that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s payout ratio is 38.39%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. TD Cowen lowered their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Bank of America assumed coverage on Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target on the stock. Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $172.00 to $165.00 in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.86.

Valero Energy Company Profile

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.