Valero Energy Corporation $VLO Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in Valero Energy Corporation (NYSE:VLO) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,025 shares of the oil and gas company’s stock after selling 2,377 shares during the quarter. Fifth Third Bancorp’s holdings in Valero Energy were worth $29,081,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Valero Energy by 11.4% in the first quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock valued at $1,243,630,000 after purchasing an additional 516,975 shares during the period. Bank of New York Mellon Corp raised its position in shares of Valero Energy by 9.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock worth $733,660,000 after purchasing an additional 254,604 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Valero Energy by 18.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after purchasing an additional 442,177 shares during the last quarter. Amundi raised its position in shares of Valero Energy by 45.3% during the 1st quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock worth $638,695,000 after purchasing an additional 806,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Valero Energy by 33.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock valued at $536,074,000 after buying an additional 520,642 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy News Roundup

Investors following VLO have been watching these news items:

• Positive Sentiment: Zacks Strong Buy recognition: VLO was included in Zacks Rank #1 lists for momentum, value, and growth, as well as its broader Strong Buy list. The repeated selections may attract investor attention, though they are screening rankings rather than new company announcements. Zacks momentum list
• Positive Sentiment: Houston restart plan advances: Coverage highlighted Valero’s plan to acquire a former Houston refinery site and restart 165,000 barrels per day of capacity by the end of 2027. If executed, the project could add throughput and growth potential, although the benefits are not immediate. Houston restart plan
• Positive Sentiment: Robust refining results and shareholder returns: Recent analysis cited third-quarter net income of $6.8 billion, strong refining margins, near-record refinery utilization, a new $10 billion share-repurchase authorization, and a quarterly dividend. Strong margins and capital returns are helping underpin the positive investor narrative. Valero stock analysis

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VLO shares. BMO Capital Markets upped their price target on Valero Energy from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. increased their price objective on Valero Energy from $339.00 to $439.00 and gave the company an “overweight” rating in a research note on Thursday, October 8th. Barclays lifted their target price on Valero Energy from $441.00 to $443.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Dbs Bank cut Valero Energy to a “hold” rating and set a $436.00 target price for the company. in a research note on Monday, October 19th. Finally, Evercore cut their price target on Valero Energy from $385.00 to $325.00 in a report on Wednesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $406.32.

Valero Energy Price Performance

Shares of VLO opened at $379.58 on Friday. The firm has a fifty day moving average price of $399.89 and a 200 day moving average price of $294.10. The stock has a market cap of $105.86 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. Valero Energy Corporation has a 1-year low of $159.90 and a 1-year high of $461.52.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm had revenue of $46.10 billion for the quarter, compared to analyst estimates of $42.71 billion. During the same period last year, the firm posted $3.66 EPS. Valero Energy’s quarterly revenue was up 43.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Valero Energy Corporation will post 58.33 EPS for the current year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. Valero Energy’s dividend payout ratio is presently 10.80%.

About Valero Energy

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.