UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Valero Energy Co. (NYSE:VLO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Valero Energy Co. (NYSE:VLO) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,527,895 shares of the oil and gas company’s stock after acquiring an additional 163,505 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.80% of Valero Energy worth $341,342,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VLO. Charles Schwab Investment Management Inc. lifted its position in shares of Valero Energy by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock valued at $1,389,090,000 after buying an additional 50,837 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Valero Energy by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after acquiring an additional 192,397 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Valero Energy by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after purchasing an additional 237,347 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock valued at $484,105,000 after purchasing an additional 567,059 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Valero Energy by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock worth $440,394,000 after purchasing an additional 82,539 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $139.02 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market capitalization of $44.01 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 2.59 and a beta of 1.39. The firm’s 50 day simple moving average is $136.92 and its 200-day simple moving average is $145.35. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79.

Valero Energy (NYSE:VLO) last released its quarterly 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. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the business earned $7.49 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. Analysts expect that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is currently 38.39%.

Wall Street Analyst Weigh In

VLO has been the topic of a number of research analyst reports. Scotiabank dropped their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho cut their price target on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. TD Cowen cut their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Barclays lowered their price target on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy 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.