Parallel Advisors LLC increased its stake in shares of Valero Energy Co. (NYSE:VLO) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,541 shares of the oil and gas company’s stock after buying an additional 113 shares during the quarter. Parallel Advisors LLC’s holdings in Valero Energy were worth $217,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lee Financial Group Hawaii Inc. grew its holdings in shares of Valero Energy by 0.8% during the second quarter. Lee Financial Group Hawaii Inc. now owns 48,496 shares of the oil and gas company’s stock worth $4,152,000 after buying an additional 382 shares during the last quarter. Adams Natural Resources Fund Inc. lifted its position in Valero Energy by 76.6% in the second quarter. Adams Natural Resources Fund Inc. now owns 206,400 shares of the oil and gas company’s stock valued at $17,670,000 after purchasing an additional 89,500 shares during the period. Thomasville National Bank acquired a new stake in Valero Energy in the second quarter valued at about $1,606,000. Allen Capital Group LLC lifted its position in Valero Energy by 11.6% in the second quarter. Allen Capital Group LLC now owns 9,268 shares of the oil and gas company’s stock valued at $793,000 after purchasing an additional 962 shares during the period. Finally, Bank of The West lifted its position in Valero Energy by 2.0% in the second quarter. Bank of The West now owns 24,305 shares of the oil and gas company’s stock valued at $2,081,000 after purchasing an additional 468 shares during the period. 76.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VLO stock traded down $0.54 during midday trading on Friday, reaching $100.86. 2,664,839 shares of the company traded hands, compared to its average volume of 3,471,837. The firm’s 50 day simple moving average is $90.73 and its two-hundred day simple moving average is $83.27. Valero Energy Co. has a 1-year low of $68.81 and a 1-year high of $101.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a market cap of $41.89 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.62 and a beta of 1.49.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.57%. Valero Energy’s payout ratio is 48.85%.
A number of equities research analysts recently commented on VLO shares. Goldman Sachs Group set a $104.00 price objective on shares of Valero Energy and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley raised their price objective on shares of Valero Energy from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Co raised their price objective on shares of Valero Energy from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Royal Bank of Canada set a $99.00 price objective on shares of Valero Energy and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, ValuEngine downgraded shares of Valero Energy from a “sell” rating to a “strong sell” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.22.
Valero Energy Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
Further Reading: Oversold
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