Baker Avenue Asset Management LP Acquires 759 Shares of Valero Energy Co. (NYSE:VLO)

Baker Avenue Asset Management LP increased its stake in Valero Energy Co. (NYSE:VLO) by 50.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,252 shares of the oil and gas company’s stock after buying an additional 759 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Valero Energy were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in Valero Energy during the 2nd quarter valued at about $27,000. Lynx Investment Advisory bought a new position in shares of Valero Energy in the second quarter valued at approximately $29,000. Summit Securities Group LLC purchased a new position in Valero Energy during the second quarter valued at approximately $31,000. Pathway Financial Advisers LLC bought a new stake in Valero Energy during the 1st quarter worth approximately $33,000. Finally, Compagnie Lombard Odier SCmA bought a new position in Valero Energy in the 3rd quarter valued at $34,000. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VLO has been the topic of a number of recent analyst reports. Bank of America assumed coverage on Valero Energy in a research report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective on the stock. Wolfe Research assumed coverage on Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Barclays decreased their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets dropped their target price on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Stock Up 1.0 %

VLO opened at $138.06 on Tuesday. The business’s 50-day moving average price is $135.89 and its 200-day moving average price is $147.21. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a market cap of $43.71 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.47 and a beta of 1.39.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. Valero Energy’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the business posted $7.49 earnings per share. On average, equities analysts expect that Valero Energy Co. will post 9.21 EPS for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

About Valero Energy

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.