Patten & Patten Inc. TN Raises Stock Holdings in Valero Energy Co. (NYSE:VLO)

Patten & Patten Inc. TN grew its stake in Valero Energy Co. (NYSE:VLOFree Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,753 shares of the oil and gas company’s stock after buying an additional 100 shares during the quarter. Patten & Patten Inc. TN’s holdings in Valero Energy were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VLO. Norges Bank purchased a new stake in shares of Valero Energy during the fourth quarter worth about $534,892,000. Price T Rowe Associates Inc. MD grew its position in shares of Valero Energy by 121.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,739,618 shares of the oil and gas company’s stock worth $242,853,000 after purchasing an additional 952,518 shares in the last quarter. Marshall Wace LLP grew its position in shares of Valero Energy by 338.9% during the second quarter. Marshall Wace LLP now owns 905,403 shares of the oil and gas company’s stock worth $106,204,000 after purchasing an additional 699,109 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Valero Energy by 94.4% during the third quarter. Acadian Asset Management LLC now owns 1,429,706 shares of the oil and gas company’s stock worth $202,585,000 after purchasing an additional 694,224 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Valero Energy during the second quarter worth about $75,019,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

NYSE:VLO opened at $180.29 on Thursday. The firm has a market capitalization of $59.94 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 1.82 and a beta of 1.54. Valero Energy Co. has a 1 year low of $104.18 and a 1 year high of $182.73. The business has a 50 day simple moving average of $149.35 and a 200-day simple moving average of $136.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.56 and a quick ratio of 1.11.

Valero Energy (NYSE:VLOGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.60. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. The business had revenue of $35.41 billion during the quarter, compared to analyst estimates of $34.76 billion. During the same period last year, the company earned $8.45 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities analysts forecast that Valero Energy Co. will post 16.2 EPS for the current year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Thursday, February 1st were paid a dividend of $1.07 per share. This is a positive change from Valero Energy’s previous quarterly dividend of $1.02. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Wednesday, January 31st. Valero Energy’s dividend payout ratio (DPR) is currently 17.31%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VLO. JPMorgan Chase & Co. increased their target price on Valero Energy from $177.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group increased their target price on Valero Energy from $130.00 to $171.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Raymond James raised their price target on Valero Energy from $154.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, January 26th. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $210.00 in a report on Friday, March 15th. Finally, Citigroup initiated coverage on Valero Energy in a report on Wednesday, January 24th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.62.

View Our Latest Stock Report on VLO

About Valero Energy

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLOFree Report).

Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.