Forum Financial Management LP Purchases 426 Shares of Valero Energy Co. (NYSE:VLO)

Forum Financial Management LP boosted its stake in shares of Valero Energy Co. (NYSE:VLO) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 6,208 shares of the oil and gas company’s stock after acquiring an additional 426 shares during the period. Forum Financial Management LP’s holdings in Valero Energy were worth $973,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. MGO One Seven LLC boosted its position in Valero Energy by 198.8% during the fourth quarter. MGO One Seven LLC now owns 16,605 shares of the oil and gas company’s stock worth $2,159,000 after purchasing an additional 11,047 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Valero Energy by 214.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,475 shares of the oil and gas company’s stock worth $1,882,000 after purchasing an additional 9,871 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy during the second quarter worth approximately $15,945,000. Choreo LLC lifted its holdings in shares of Valero Energy by 188.0% during the fourth quarter. Choreo LLC now owns 5,541 shares of the oil and gas company’s stock worth $720,000 after buying an additional 3,617 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Valero Energy by 62.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 13,586 shares of the oil and gas company’s stock worth $1,766,000 after buying an additional 5,209 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO stock opened at $146.73 on Friday. The stock’s fifty day moving average is $150.28 and its 200-day moving average is $155.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market capitalization of $47.98 billion, a PE ratio of 7.27, a PEG ratio of 2.78 and a beta of 1.42. Valero Energy Co. has a 52 week low of $119.88 and a 52 week high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company had revenue of $34.49 billion for the quarter, compared to analysts’ expectations of $32.97 billion. During the same quarter in the prior year, the business earned $5.40 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that Valero Energy Co. will post 12.86 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a dividend of $1.07 per share. The ex-dividend date is Thursday, August 1st. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.92%. Valero Energy’s payout ratio is presently 21.20%.

Analyst Ratings Changes

A number of research analysts have recently commented on VLO shares. Argus lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. cut their price target on Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Wolfe Research started coverage on Valero Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $177.00 target price for the company. Piper Sandler cut their target price on Valero Energy from $187.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Finally, Mizuho upgraded Valero Energy from a “neutral” rating to an “outperform” rating and upped their target price for the company from $165.00 to $175.00 in a research note on Wednesday, July 17th. One equities research 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. According to MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

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.