Resona Asset Management Co. Ltd. Purchases 4,409 Shares of Valero Energy Corporation $VLO

Resona Asset Management Co. Ltd. grew its position in Valero Energy Corporation (NYSE:VLO) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,871 shares of the oil and gas company’s stock after acquiring an additional 4,409 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Valero Energy were worth $14,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Broadway Wealth Solutions Inc. grew its holdings in shares of Valero Energy by 3.8% in the second quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 69 shares in the last quarter. Park Place Capital Corp raised its stake in Valero Energy by 21.8% during the second quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 75 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Valero Energy by 1.4% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock valued at $732,000 after purchasing an additional 78 shares during the last quarter. Summit Financial LLC lifted its position in Valero Energy by 4.6% during the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company’s stock valued at $239,000 after purchasing an additional 79 shares during the last quarter. Finally, Keeley Teton Advisors LLC grew its stake in shares of Valero Energy by 1.1% in the 1st quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company’s stock worth $1,025,000 after buying an additional 81 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VLO has been the topic of several recent research reports. Bank of America upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Wall Street Zen raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Saturday, October 25th. Morgan Stanley lowered Valero Energy from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. Evercore ISI lifted their target price on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Finally, Citigroup lowered Valero Energy from a “buy” rating to a “neutral” rating and increased their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.27.

Valero Energy Stock Down 0.5%

Shares of NYSE VLO opened at $175.22 on Friday. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $179.10. The firm has a 50-day simple moving average of $164.33 and a two-hundred day simple moving average of $145.11. The company has a market cap of $53.44 billion, a P/E ratio of 36.58, a PEG ratio of 1.77 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The firm had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Research analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 20th will be paid a $1.13 dividend. The ex-dividend date is Thursday, November 20th. This represents a $4.52 dividend on an annualized basis and a yield of 2.6%. Valero Energy’s dividend payout ratio (DPR) is presently 94.36%.

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.