Principal Financial Group Inc. Acquires 3,065 Shares of Valero Energy Co. (NYSE:VLO)

Principal Financial Group Inc. boosted its holdings in Valero Energy Co. (NYSE:VLO) by 0.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 368,454 shares of the oil and gas company’s stock after purchasing an additional 3,065 shares during the quarter. Principal Financial Group Inc.’s holdings in Valero Energy were worth $49,752,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Valero Energy during the third quarter worth $28,000. Summit Securities Group LLC bought a new position in shares of Valero Energy during the 2nd quarter valued at about $31,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Valero Energy during the third quarter valued at about $34,000. True Wealth Design LLC increased its holdings in shares of Valero Energy by 196.8% in the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Valero Energy in the third quarter worth about $38,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of VLO stock opened at $118.59 on Monday. The stock has a 50 day moving average price of $134.36 and a 200 day moving average price of $142.13. The firm has a market capitalization of $37.54 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 52-week low of $117.14 and a 52-week high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share 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 the consensus estimate of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $7.49 earnings per share. As a group, sell-side analysts predict that Valero Energy Co. will post 8.86 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analyst Weigh In

Several research firms have weighed in on VLO. Bank of America started coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. The Goldman Sachs Group reduced their price target on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets lowered their price objective 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. Barclays reduced their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Citigroup lowered their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. 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 issued a strong buy rating to the company. According to MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target of $155.07.

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.