Illinois Municipal Retirement Fund Acquires 3,352 Shares of Valero Energy Corporation $VLO

Illinois Municipal Retirement Fund raised its holdings in Valero Energy Corporation (NYSE:VLO) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,547 shares of the oil and gas company’s stock after buying an additional 3,352 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Valero Energy were worth $42,074,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Northbridge Financial Group LLC raised its holdings in Valero Energy by 26.9% in the 3rd quarter. Northbridge Financial Group LLC now owns 1,232 shares of the oil and gas company’s stock worth $516,000 after purchasing an additional 261 shares in the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Valero Energy by 35.1% in the 3rd quarter. Confluence Wealth Services Inc. now owns 12,923 shares of the oil and gas company’s stock worth $5,009,000 after purchasing an additional 3,359 shares during the period. Moneco Advisors LLC lifted its position 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. lifted its position in shares of Valero Energy by 114.8% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 2,614 shares of the oil and gas company’s stock worth $1,013,000 after purchasing an additional 1,397 shares during the period. Finally, Keybank National Association OH boosted its stake in shares of Valero Energy by 5.1% during the 3rd quarter. Keybank National Association OH now owns 19,757 shares of the oil and gas company’s stock valued at $7,658,000 after purchasing an additional 957 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about 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

Analyst Upgrades and Downgrades

VLO has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Valero Energy from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Valero Energy from $339.00 to $439.00 and gave the stock an “overweight” rating in a research note on Thursday, October 8th. Dbs Bank lowered shares of Valero Energy to a “hold” rating and set a $436.00 price objective for the company. in a report on Monday, October 19th. TD Cowen lifted their price objective on Valero Energy from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Thursday, October 22nd. Finally, Erste Group Bank cut Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $406.32.

Valero Energy Price Performance

Shares of VLO opened at $350.17 on Wednesday. Valero Energy Corporation has a fifty-two week low of $159.90 and a fifty-two week high of $461.52. The firm’s 50-day simple moving average is $399.49 and its two-hundred day simple moving average is $291.27. The stock has a market cap of $97.66 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.18 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.72.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. During the same period last year, the business earned $3.66 earnings per share. The business’s revenue was up 43.3% on a year-over-year basis. Analysts anticipate that Valero Energy Corporation will post 57.83 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. Valero Energy’s dividend payout ratio 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.