Fortem Financial Group LLC Has $1.43 Million Stock Position in Valero Energy Co. (NYSE:VLO)

Fortem Financial Group LLC boosted its holdings in shares of Valero Energy Co. (NYSE:VLO) by 85.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,572 shares of the oil and gas company’s stock after buying an additional 4,879 shares during the period. Fortem Financial Group LLC’s holdings in Valero Energy were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Valero Energy by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after buying an additional 22,571 shares during the period. 180 Wealth Advisors LLC acquired a new position in Valero Energy in the 2nd quarter worth about $535,000. Captrust Financial Advisors increased its position in Valero Energy by 7.5% in the 3rd quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company’s stock worth $12,121,000 after purchasing an additional 6,278 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in Valero Energy by 136.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company’s stock worth $10,143,000 after purchasing an additional 43,299 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Valero Energy by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock worth $1,090,532,000 after purchasing an additional 192,397 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of VLO stock opened at $132.34 on Wednesday. The stock has a 50 day moving average of $136.97 and a two-hundred day moving average of $144.03. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The company has a market capitalization of $41.90 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.47 and a beta of 1.40.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter last year, the company earned $7.49 EPS. The company’s quarterly revenue was down 14.4% on a year-over-year basis. As a group, equities analysts expect that Valero Energy Co. will post 8.89 EPS for the current year.

Valero Energy Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.23%. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BMO Capital Markets dropped their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $169.00 to $123.00 in a report on Friday, September 20th. TD Cowen lowered their price objective on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America began coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective on the stock. Finally, Scotiabank lowered their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.50.

Valero Energy Company 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.