Valero Energy Corporation $VLO Stock Sold by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in Valero Energy Corporation (NYSE:VLO) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,184 shares of the oil and gas company’s stock after selling 2,174 shares during the period. Valero Energy makes up approximately 0.9% of Narwhal Capital Management’s portfolio, making the stock its 26th largest position. Narwhal Capital Management’s holdings in Valero Energy were worth $14,025,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Bank of America Corp DE acquired a new stake in Valero Energy in the 2nd quarter valued at about $1,195,943,000. Amundi boosted its stake in shares of Valero Energy by 45.3% in the 1st quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after buying an additional 806,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Valero Energy by 33.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after buying an additional 520,642 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of Valero Energy during the second quarter worth about $59,917,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Valero Energy by 18.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after buying an additional 442,177 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on VLO. UBS Group restated a “buy” rating and set a $467.00 target price (up from $355.00) on shares of Valero Energy in a research note on Tuesday, October 6th. Evercore decreased their price target on shares of Valero Energy from $385.00 to $325.00 in a research note on Wednesday, October 28th. Jefferies Financial Group decreased their price target on shares of Valero Energy from $401.00 to $394.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Valero Energy from $339.00 to $439.00 and gave the stock an “overweight” rating in a report on Thursday, October 8th. Finally, BMO Capital Markets increased their price objective on shares of Valero Energy from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and an average target price of $406.32.

Valero Energy Stock Down 1.8%

Valero Energy stock opened at $350.17 on Wednesday. Valero Energy Corporation has a 1-year low of $159.90 and a 1-year high of $461.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. The stock has a market cap of $97.66 billion, a PE ratio of 7.88, a P/E/G ratio of 0.18 and a beta of 0.58. The stock’s fifty day moving average is $399.49 and its two-hundred day moving average is $291.27.

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

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, November 24th. Valero Energy’s dividend payout ratio is currently 10.80%.

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

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.