Jessup Wealth Management Inc Takes $4.50 Million Position in Valero Energy Co. (NYSE:VLO)

Jessup Wealth Management Inc purchased a new position in shares of Valero Energy Co. (NYSE:VLO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,389 shares of the oil and gas company’s stock, valued at approximately $4,504,000. Valero Energy makes up 1.9% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds have also recently added to or reduced their stakes in VLO. Collective Family Office LLC raised its position in shares of Valero Energy by 1.5% in the first quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock valued at $690,000 after buying an additional 58 shares during the last quarter. Versant Capital Management Inc raised its holdings in Valero Energy by 4.7% in the 1st quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock valued at $227,000 after acquiring an additional 59 shares during the last quarter. Aua Capital Management LLC lifted its stake in Valero Energy by 3.1% in the 1st quarter. Aua Capital Management LLC now owns 2,261 shares of the oil and gas company’s stock worth $386,000 after purchasing an additional 67 shares in the last quarter. United Community Bank boosted its holdings in shares of Valero Energy by 2.2% during the 4th quarter. United Community Bank now owns 3,416 shares of the oil and gas company’s stock worth $444,000 after purchasing an additional 75 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its position in shares of Valero Energy by 0.9% in the fourth quarter. Marino Stram & Associates LLC now owns 8,384 shares of the oil and gas company’s stock valued at $1,090,000 after purchasing an additional 77 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VLO shares. JPMorgan Chase & Co. boosted their price objective on Valero Energy from $177.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Piper Sandler dropped their price objective on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, June 14th. The Goldman Sachs Group boosted their target price on shares of Valero Energy from $130.00 to $171.00 and gave the company a “sell” rating in a report on Friday, March 22nd. TD Cowen cut their target price on Valero Energy from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $156.00 to $210.00 in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.00.

Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $158.12, for a total transaction of $113,846.40. Following the completion of the transaction, the director now owns 13,314 shares in the company, valued at approximately $2,105,209.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

Valero Energy Stock Up 1.3 %

Valero Energy stock traded up $1.93 during mid-day trading on Friday, reaching $155.97. 890,313 shares of the company’s stock were exchanged, compared to its average volume of 3,123,492. The company has a fifty day moving average of $157.66 and a 200-day moving average of $149.83. The company has a market cap of $51.00 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.53 and a beta of 1.47. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a twelve month low of $112.16 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.64. Valero Energy had a return on equity of 24.82% and a net margin of 5.01%. The firm had revenue of $31.76 billion during the quarter, compared to analyst estimates of $32.02 billion. During the same period last year, the business posted $8.27 earnings per share. Valero Energy’s revenue was down 12.8% compared to the same quarter last year. Sell-side analysts expect that Valero Energy Co. will post 16.75 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 30th will be paid a dividend of $1.07 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.74%. Valero Energy’s payout ratio is 21.20%.

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.