Smithbridge Asset Management Inc. DE Boosts Holdings in Valero Energy Corporation $VLO

Smithbridge Asset Management Inc. DE raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 44.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,335 shares of the oil and gas company’s stock after purchasing an additional 4,998 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Valero Energy were worth $2,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Valero Energy during the fourth quarter valued at $1,111,542,000. Franklin Resources Inc. lifted its holdings in Valero Energy by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock valued at $922,728,000 after purchasing an additional 394,693 shares in the last quarter. Barclays PLC raised its position in shares of Valero Energy by 5.3% in the third quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company’s stock valued at $705,502,000 after buying an additional 209,597 shares during the last quarter. Legal & General Group Plc raised its position in shares of Valero Energy by 2.3% in the third quarter. Legal & General Group Plc now owns 1,904,181 shares of the oil and gas company’s stock valued at $324,206,000 after buying an additional 43,237 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Valero Energy in the third quarter valued at about $275,239,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Valero Energy stock opened at $258.27 on Thursday. Valero Energy Corporation has a 12-month low of $130.78 and a 12-month high of $265.61. The stock has a market cap of $76.69 billion, a P/E ratio of 18.77, a PEG ratio of 0.37 and a beta of 0.55. The company has a 50-day moving average price of $245.01 and a 200 day moving average price of $211.65. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The firm had revenue of $32.38 billion during the quarter, compared to analysts’ expectations of $31.38 billion. During the same period last year, the business earned $0.89 earnings per share. Valero Energy’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Valero Energy Corporation will post 26.51 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, May 21st. Valero Energy’s dividend payout ratio (DPR) is presently 34.88%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group increased their target price on shares of Valero Energy from $215.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. TD Cowen increased their target price on shares of Valero Energy from $255.00 to $276.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Barclays increased their target price on shares of Valero Energy from $184.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Valero Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Finally, Wells Fargo & Company increased their target price on shares of Valero Energy from $220.00 to $292.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.65.

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.