Oppenheimer Asset Management Inc. Buys 304 Shares of Valero Energy Co. (NYSE:VLO)

Oppenheimer Asset Management Inc. increased its holdings in Valero Energy Co. (NYSE:VLO) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,497 shares of the oil and gas company’s stock after purchasing an additional 304 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Valero Energy were worth $3,443,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc raised its position in Valero Energy by 1.3% in the third quarter. Pinnacle Financial Partners Inc now owns 182,096 shares of the oil and gas company’s stock worth $24,588,000 after purchasing an additional 2,270 shares in the last quarter. MQS Management LLC acquired a new position in Valero Energy in the third quarter worth about $907,000. Simmons Bank raised its position in Valero Energy by 4.7% in the third quarter. Simmons Bank now owns 4,806 shares of the oil and gas company’s stock worth $649,000 after purchasing an additional 214 shares in the last quarter. Empower Advisory Group LLC raised its position in Valero Energy by 2.8% in the third quarter. Empower Advisory Group LLC now owns 495,931 shares of the oil and gas company’s stock worth $66,966,000 after purchasing an additional 13,700 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its position in Valero Energy by 5.7% in the third quarter. Aptus Capital Advisors LLC now owns 5,585 shares of the oil and gas company’s stock worth $754,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. BMO Capital Markets dropped their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group dropped their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Barclays dropped their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Bank of America assumed coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $140.16 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The firm has a market cap of $44.37 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.56 and a beta of 1.39. The firm has a 50 day simple moving average of $135.71 and a 200 day simple moving average of $146.70. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (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 firm had revenue of $32.88 billion for the quarter, compared to analysts’ expectations of $31.04 billion. During the same period last year, the firm earned $7.49 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. Sell-side analysts predict that Valero Energy Co. will post 9.1 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed 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 is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.05%. Valero Energy’s payout ratio is presently 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.