Everence Capital Management Inc. Boosts Holdings in Valero Energy Co. (NYSE:VLO)

by · The Markets Daily

Everence Capital Management Inc. raised its stake in Valero Energy Co. (NYSE:VLO – Free Report) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,630 shares of the oil and gas company’s stock after acquiring an additional 2,780 shares during the quarter. Everence Capital Management Inc.’s holdings in Valero Energy were worth $5,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted 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 purchasing an additional 192,397 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Valero Energy by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock valued at $677,007,000 after buying an additional 237,347 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Valero Energy by 1.9% during the 2nd quarter. Pacer Advisors Inc. now owns 3,018,107 shares of the oil and gas company’s stock worth $473,118,000 after acquiring an additional 56,989 shares during the period. Legal & General Group Plc increased its holdings in 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 acquiring an additional 82,539 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Valero Energy by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,063,923 shares of the oil and gas company’s stock valued at $352,292,000 after acquiring an additional 65,632 shares during the period. 78.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho cut their target price on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Scotiabank cut their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler cut Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $169.00 to $123.00 in a research report on Friday, September 20th. Finally, Wolfe Research began coverage on Valero Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.60.

Read Our Latest Stock Report on VLO

Valero Energy Trading Down 1.3 %

Shares of NYSE:VLO traded down $1.83 during trading on Monday, reaching $135.21. 868,229 shares of the company traded hands, compared to its average volume of 2,981,798. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. Valero Energy Co. has a 52-week low of $119.88 and a 52-week high of $184.79. The business’s fifty day moving average is $139.77 and its 200-day moving average is $151.38. The firm has a market capitalization of $43.32 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 3.53 and a beta of 1.39.

Valero Energy (NYSE:VLO – Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $5.40 earnings per share. As a group, analysts forecast that Valero Energy Co. will post 9.6 EPS for the current year.

Valero Energy Company Profile

(Free Report)

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.

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