Pinpoint Asset Management Singapore Pte. Ltd. Takes Position in Valero Energy Corporation $VLO

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Valero Energy Corporation (NYSE:VLO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,948 shares of the oil and gas company’s stock, valued at approximately $507,000.

A number of other institutional investors have also recently added to or reduced their stakes in VLO. Norges Bank purchased a new stake in Valero Energy in the 4th quarter valued at $1,111,542,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Valero Energy during the 3rd quarter worth $275,239,000. Pacer Advisors Inc. boosted its position in shares of Valero Energy by 2,635.7% during the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company’s stock valued at $154,736,000 after acquiring an additional 915,782 shares during the last quarter. Amundi boosted 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 valued at $638,695,000 after acquiring an additional 806,018 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Valero Energy by 49.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,696,811 shares of the oil and gas company’s stock valued at $276,224,000 after purchasing an additional 560,116 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VLO shares. Weiss Ratings upgraded shares of Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Wolfe Research reissued an “underperform” rating and issued a $203.00 price target on shares of Valero Energy in a research note on Tuesday, April 21st. Mizuho raised their price target on shares of Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. TD Cowen lifted their price target on shares of Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Valero Energy from $292.00 to $356.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.00.

Valero Energy Stock Down 0.1%

Shares of NYSE:VLO opened at $341.36 on Monday. The company has a market capitalization of $98.29 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.23 and a beta of 0.55. Valero Energy Corporation has a 12-month low of $135.01 and a 12-month high of $346.09. The business has a 50-day moving average price of $283.92 and a 200 day moving average price of $248.42. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. The company had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. Valero Energy’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.28 earnings per share. Sell-side analysts expect that Valero Energy Corporation will post 40.62 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. Valero Energy’s payout ratio is 19.92%.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.