Point72 Asia Singapore Pte. Ltd. Acquires New Position in Valero Energy Co. (NYSE:VLO)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Valero Energy Co. (NYSE:VLO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,217 shares of the oil and gas company’s stock, valued at approximately $3,135,000. Valero Energy makes up about 0.6% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 21st largest holding.

Several other large investors also recently bought and sold shares of VLO. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy during the second quarter worth about $15,945,000. Allspring Global Investments Holdings LLC grew its holdings in Valero Energy by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock worth $174,673,000 after acquiring an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in Valero Energy during the 2nd quarter worth approximately $535,000. Massmutual Trust Co. FSB ADV increased its position in shares of Valero Energy by 23.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock valued at $6,696,000 after purchasing an additional 8,198 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Valero Energy by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after purchasing an additional 192,397 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Up 0.4 %

VLO stock opened at $139.08 on Friday. The company has a market cap of $44.03 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. The company has a fifty day moving average price of $136.92 and a 200 day moving average price of $145.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same period in the prior year, the company earned $7.49 earnings per share. The business’s revenue was down 14.4% compared to the same quarter last year. Sell-side analysts expect that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.08%. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

Analysts Set New Price Targets

A number of brokerages recently commented on VLO. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $172.00 to $165.00 in a research report on Wednesday, October 9th. Mizuho cut their target price on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. TD Cowen decreased their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Citigroup dropped their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Company 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.