Pinnbrook Capital Management LP Buys Shares of 26,636 Valero Energy Corporation $VLO

Pinnbrook Capital Management LP purchased a new stake in Valero Energy Corporation (NYSE:VLO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,636 shares of the oil and gas company’s stock, valued at approximately $6,937,000.

A number of other institutional investors have also made changes to their positions in VLO. Sierra Summit Advisors LLC boosted its position in shares of Valero Energy by 2,325.2% during the fourth quarter. Sierra Summit Advisors LLC now owns 36,378 shares of the oil and gas company’s stock worth $5,922,000 after purchasing an additional 34,878 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Valero Energy by 846.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,752 shares of the oil and gas company’s stock valued at $2,401,000 after buying an additional 13,194 shares during the period. North Dakota State Investment Board bought a new stake in shares of Valero Energy in the 4th quarter valued at $1,743,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of Valero Energy by 4.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company’s stock valued at $47,546,000 after buying an additional 7,702 shares in the last quarter. Finally, Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in Valero Energy during the 4th quarter worth $2,268,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLO has been the topic of several recent analyst reports. Jefferies Financial Group set a $350.00 target price on Valero Energy in a report on Monday, August 3rd. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Raymond James Financial raised their price target on Valero Energy from $300.00 to $340.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 13th. Citigroup lifted their price objective on Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $329.00 price objective on shares of Valero Energy in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.00.

Valero Energy Trading Up 2.3%

VLO opened at $349.27 on Friday. The stock has a market capitalization of $100.57 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.23 and a beta of 0.55. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. Valero Energy Corporation has a 12 month low of $140.13 and a 12 month high of $352.70. The firm’s fifty day simple moving average is $292.93 and its 200 day simple moving average is $253.69.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The firm had revenue of $44.48 billion during the quarter, compared to analysts’ expectations of $39.47 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The company’s revenue was up 48.8% on a year-over-year basis. As a group, research analysts anticipate that Valero Energy Corporation will post 40.62 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be paid a $1.20 dividend. The ex-dividend date is Friday, July 31st. This represents a $4.80 annualized dividend and a yield of 1.4%. Valero Energy’s payout ratio is presently 19.92%.

Insider Activity at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the transaction, the senior vice president owned 19,742 shares in the company, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

About Valero Energy

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.