Angeles Wealth Management LLC Boosts Stake in Valero Energy Co. (NYSE:VLO)

Angeles Wealth Management LLC raised its position in Valero Energy Co. (NYSE:VLO) by 18.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,709 shares of the oil and gas company’s stock after purchasing an additional 269 shares during the quarter. Angeles Wealth Management LLC’s holdings in Valero Energy were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. Norges Bank purchased a new stake in Valero Energy in the 4th quarter worth about $570,428,000. Acadian Asset Management LLC increased its position in shares of Valero Energy by 37.6% during the first quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock worth $266,040,000 after acquiring an additional 426,093 shares during the period. Montrusco Bolton Investments Inc. increased its position in shares of Valero Energy by 18.7% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 2,389,654 shares of the oil and gas company’s stock worth $310,655,000 after acquiring an additional 376,449 shares during the period. Bank of Nova Scotia increased its position in shares of Valero Energy by 721.4% during the fourth quarter. Bank of Nova Scotia now owns 337,911 shares of the oil and gas company’s stock worth $43,927,000 after acquiring an additional 296,771 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Valero Energy during the first quarter worth approximately $39,517,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of VLO opened at $132.90 on Thursday. The company has a market cap of $43.46 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 2.73 and a beta of 1.40. Valero Energy Co. has a twelve month low of $119.88 and a twelve month high of $184.79. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $147.36 and a two-hundred day moving average of $155.50.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.11. The company had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. Valero Energy’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $5.40 earnings per share. As a group, analysts predict that Valero Energy Co. will post 12.3 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were paid a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.28 annualized dividend and a yield of 3.22%. Valero Energy’s dividend payout ratio (DPR) is 21.20%.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wolfe Research initiated coverage on shares of Valero Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $177.00 target price on the stock. Mizuho raised shares of Valero Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $175.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of Valero Energy from $178.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $174.50.

About Valero Energy

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.