Pinpoint Asset Management Singapore Pte. Ltd. Takes $507,000 Position in Valero Energy Corporation $VLO

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Valero Energy Corporation (NYSE:VLO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 1,948 shares of the oil and gas company’s stock, valued at approximately $507,000.

Several other hedge funds have also recently bought and sold shares of VLO. Whipplewood Advisors LLC grew its position in Valero Energy by 3,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 102 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Valero Energy during the first quarter worth about $28,000. Valued Wealth Advisors LLC lifted its position in shares of Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Valero Energy in the first quarter valued at approximately $33,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Valero Energy in the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VLO. Wolfe Research reaffirmed an “underperform” rating and set a $203.00 target price on shares of Valero Energy in a research note on Tuesday, April 21st. Piper Sandler reissued an “overweight” rating and issued a $329.00 price target on shares of Valero Energy in a research report on Thursday, July 23rd. Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on Valero Energy from $292.00 to $356.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Scotiabank increased their price objective on Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $288.00.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $341.36 on Monday. The business has a 50-day simple moving average of $283.92 and a 200-day simple moving average of $248.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. Valero Energy Corporation has a one year low of $135.01 and a one year high of $346.09. The company has a market cap of $98.29 billion, a PE ratio of 14.16, a P/E/G ratio of 0.23 and a beta of 0.55.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. During the same quarter last year, the company earned $2.28 earnings per share. The firm’s revenue was up 48.8% compared to the same quarter last year. On average, equities research analysts forecast that Valero Energy Corporation will post 40.62 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. Valero Energy’s dividend payout ratio is currently 19.92%.

Insider Buying and Selling at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the sale, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.