TD Asset Management Inc Raises Position in Valero Energy Corporation $VLO

TD Asset Management Inc increased its position in shares of Valero Energy Corporation (NYSE:VLO) by 25.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,363 shares of the oil and gas company’s stock after purchasing 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 also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Valero Energy in the 2nd quarter valued at approximately $827,390,000. Geode Capital Management LLC grew its holdings in Valero Energy by 16.7% during the second quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company’s stock worth $1,089,897,000 after acquiring an additional 1,164,217 shares during the period. American Century Companies Inc. raised its position in Valero Energy by 162.5% in the second quarter. American Century Companies Inc. now owns 523,692 shares of the oil and gas company’s stock worth $70,395,000 after acquiring an additional 324,174 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Valero Energy by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company’s stock valued at $1,576,035,000 after acquiring an additional 286,942 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Valero Energy by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,706,187 shares of the oil and gas company’s stock worth $286,076,000 after purchasing an additional 256,373 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

VLO has been the subject of several recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $195.00 price objective (down from $198.00) on shares of Valero Energy in a research note on Thursday, December 11th. Morgan Stanley lifted their price target on shares of Valero Energy from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. Piper Sandler upped their price target on Valero Energy from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Erste Group Bank started coverage on Valero Energy in a research note on Monday, November 10th. They issued a “buy” rating for the company. Finally, Zacks Research downgraded Valero Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and an average price target of $187.67.

Valero Energy Price Performance

VLO stock opened at $204.49 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. The stock’s 50 day moving average price is $185.80 and its 200 day moving average price is $171.96. The firm has a market cap of $62.37 billion, a P/E ratio of 26.77, a PEG ratio of 1.07 and a beta of 0.77. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $206.77.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a return on equity of 12.34% and a net margin of 1.91%.The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Thursday, February 5th will be issued a $1.20 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $1.13. The ex-dividend date is Thursday, February 5th. This represents a $4.80 annualized dividend and a yield of 2.3%. Valero Energy’s payout ratio is presently 62.83%.

Valero Energy 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.