Valero Energy Corporation $VLO Position Increased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its position in shares of Valero Energy Corporation (NYSE:VLO) by 35.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,923 shares of the oil and gas company’s stock after acquiring an additional 3,359 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Valero Energy were worth $5,009,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Moneco Advisors LLC lifted its stake in shares of Valero Energy by 10.4% in the 3rd quarter. Moneco Advisors LLC now owns 1,100 shares of the oil and gas company’s stock worth $426,000 after purchasing an additional 104 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Valero Energy by 114.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 2,614 shares of the oil and gas company’s stock worth $1,013,000 after buying an additional 1,397 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Valero Energy by 5.1% in the third quarter. Keybank National Association OH now owns 19,757 shares of the oil and gas company’s stock worth $7,658,000 after buying an additional 957 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Valero Energy by 3.0% during the third quarter. Cornerstone Wealth Management LLC now owns 4,413 shares of the oil and gas company’s stock valued at $1,710,000 after buying an additional 127 shares during the period. Finally, D Orazio & Associates Inc. bought a new stake in Valero Energy during the third quarter valued at approximately $311,000. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research reports. Freedom Broker cut shares of Valero Energy from a “hold” rating to a “sell” rating and set a $276.00 target price for the company. in a report on Friday, October 23rd. Bank of America lifted their price target on shares of Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Morgan Stanley boosted their price objective on shares of Valero Energy from $411.00 to $420.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Wells Fargo & Company upped their price objective on Valero Energy from $485.00 to $489.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on Valero Energy from $457.00 to $496.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and an average price target of $406.32.

Key Stories Impacting Valero Energy

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: A recent analysis cited Valero’s access to lower-cost heavy crude, strong refining margins, balance sheet and valuation as reasons it may remain attractive. Valero Energy Surges 113% YTD: Should Investors Bet on the Momentum?
• Positive Sentiment: Zacks included VLO in its Strong Buy growth-stock selections, adding to the bullish analyst coverage from the prior day. Best Growth Stocks to Buy for November 9th
• Positive Sentiment: Another Zacks article named Valero among five growth stocks to consider, supporting the view that its refining performance could continue to benefit investors. Buy 5 Growth Stocks to Enhance Your Portfolio Returns in November
• Negative Sentiment: Cramer said Valero’s two-year refining-cycle rally may have run its course and advised shareholders to take profits before margins normalize further. This is an opinion-based sell call, not a change in the company’s reported fundamentals, but it may add near-term pressure to the stock. Cramer Recommends Selling Valero Energy Stock

Valero Energy Stock Down 1.8%

NYSE VLO opened at $350.17 on Wednesday. Valero Energy Corporation has a 52 week low of $159.90 and a 52 week high of $461.52. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $97.66 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.18 and a beta of 0.58. The stock’s 50-day moving average price is $399.49 and its 200-day moving average price is $291.27.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The company had revenue of $46.10 billion during the quarter, compared to the consensus estimate of $42.71 billion. Valero Energy had a return on equity of 45.90% and a net margin of 8.44%. The firm’s revenue was up 43.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.66 EPS. On average, equities research analysts predict that Valero Energy Corporation will post 57.83 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, November 24th. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. Valero Energy’s dividend payout ratio (DPR) is presently 10.80%.

About Valero Energy

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.