TD Asset Management Inc Boosts Holdings in Valero Energy Corporation $VLO

TD Asset Management Inc lifted its stake in shares of Valero Energy Corporation (NYSE:VLO) by 25.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,363 shares of the oil and gas company’s stock after acquiring an additional 29,191 shares during the period. TD Asset Management Inc’s holdings in Valero Energy were worth $24,409,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Valero Energy by 17.4% during the third quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company’s stock worth $27,377,000 after acquiring an additional 23,859 shares during the last quarter. Federated Hermes Inc. increased its position in Valero Energy by 15.7% during the 2nd quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock worth $21,770,000 after purchasing an additional 21,997 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in Valero Energy in the third quarter valued at approximately $4,534,000. Tema Etfs LLC purchased a new position in Valero Energy in the third quarter valued at approximately $1,669,000. Finally, Cerity Partners LLC lifted its position in Valero Energy by 9.0% during the third quarter. Cerity Partners LLC now owns 104,859 shares of the oil and gas company’s stock valued at $17,853,000 after buying an additional 8,638 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO stock opened at $204.49 on Friday. The stock’s 50 day moving average is $185.80 and its two-hundred day moving average is $171.96. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $206.77. The company has a market capitalization of $62.37 billion, a PE ratio of 26.77, a P/E/G ratio of 1.07 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.34%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Thursday, February 5th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, February 5th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 2.3%. Valero Energy’s dividend payout ratio is 62.83%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VLO shares. JPMorgan Chase & Co. raised their target price on shares of Valero Energy from $197.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Wall Street Zen upgraded Valero Energy from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Piper Sandler boosted their price objective on Valero Energy from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of Valero Energy in a report on Tuesday, January 6th. Finally, Morgan Stanley upped their price target on Valero Energy from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.67.

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.