Occidental Asset Management LLC Makes New Investment in Valero Energy Co. (NYSE:VLO)

Occidental Asset Management LLC purchased a new stake in shares of Valero Energy Co. (NYSE:VLO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,604 shares of the oil and gas company’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC boosted its holdings in Valero Energy by 1.6% during the 3rd quarter. Quad Cities Investment Group LLC now owns 4,851 shares of the oil and gas company’s stock worth $655,000 after acquiring an additional 75 shares during the last quarter. Providence Wealth Advisors LLC lifted its position in shares of Valero Energy by 0.9% during the third quarter. Providence Wealth Advisors LLC now owns 8,784 shares of the oil and gas company’s stock valued at $1,169,000 after purchasing an additional 75 shares in the last quarter. New Century Financial Group LLC boosted its holdings in Valero Energy by 5.0% during the third quarter. New Century Financial Group LLC now owns 1,708 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 81 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Valero Energy by 4.7% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,834 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 82 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in Valero Energy by 6.4% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,420 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 85 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

NYSE:VLO opened at $141.21 on Friday. The business’s fifty day moving average is $131.16 and its 200 day moving average is $138.59. The firm has a market cap of $44.70 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 52-week low of $116.84 and a 52-week high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.49 earnings per share. Research analysts predict that Valero Energy Co. will post 7.96 EPS for the current year.

Valero Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be given a dividend of $1.13 per share. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, January 30th. Valero Energy’s payout ratio is 38.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank cut their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. TD Cowen lowered their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Bank of America began coverage on shares of Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. Finally, Mizuho dropped their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Valero Energy Profile

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.