Huntington National Bank Increases Stake in Valero Energy Corporation $VLO

Huntington National Bank boosted its stake in Valero Energy Corporation (NYSE:VLO) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 802,329 shares of the oil and gas company’s stock after purchasing an additional 11,032 shares during the period. Huntington National Bank owned about 0.26% of Valero Energy worth $107,849,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VLO. Price T Rowe Associates Inc. MD increased its stake in Valero Energy by 276.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Vanguard Group Inc. increased its stake in Valero Energy by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Nuveen LLC purchased a new position in shares of Valero Energy during the first quarter valued at approximately $529,864,000. Invesco Ltd. increased its stake in shares of Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock valued at $647,823,000 after buying an additional 1,247,196 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock valued at $1,510,586,000 after buying an additional 736,533 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VLO shares. JPMorgan Chase & Co. boosted their target price on Valero Energy from $177.00 to $197.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Evercore ISI lifted their price target on Valero Energy from $135.00 to $185.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Wolfe Research lowered Valero Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Valero Energy in a research report on Wednesday, October 8th. Finally, Citigroup downgraded Valero Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $179.27.

Valero Energy Stock Up 1.2%

VLO stock opened at $171.63 on Tuesday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $178.43. The business has a fifty day moving average price of $162.55 and a 200-day moving average price of $143.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09. The stock has a market capitalization of $53.32 billion, a P/E ratio of 35.83, a P/E/G ratio of 1.77 and a beta of 1.05.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The firm had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $28.80 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, November 20th. Valero Energy’s dividend payout ratio is 94.36%.

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.