Valero Energy Co. (NYSE:VLO) Shares Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC raised its stake in Valero Energy Co. (NYSE:VLO - Free Report) by 136.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,117 shares of the oil and gas company's stock after purchasing an additional 43,299 shares during the quarter. HITE Hedge Asset Management LLC's holdings in Valero Energy were worth $10,143,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in VLO. Charles Schwab Investment Management Inc. lifted its holdings in shares of Valero Energy by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company's stock valued at $1,389,090,000 after acquiring an additional 50,837 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Valero Energy by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company's stock worth $1,090,532,000 after acquiring an additional 192,397 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Valero Energy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company's stock worth $677,007,000 after acquiring an additional 237,347 shares during the period. Pacer Advisors Inc. grew its position in Valero Energy by 18.8% in the third quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company's stock valued at $484,105,000 after acquiring an additional 567,059 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Valero Energy by 3.0% during the second quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company's stock valued at $440,394,000 after purchasing an additional 82,539 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

NYSE VLO traded down $2.64 during trading hours on Tuesday, hitting $137.50. The company had a trading volume of 2,070,285 shares, compared to its average volume of 2,921,504. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market cap of $43.53 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 2.62 and a beta of 1.39. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79. The business has a fifty day simple moving average of $136.92 and a 200-day simple moving average of $145.19.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion for the quarter, compared to analysts' expectations of $31.04 billion. During the same quarter last year, the company earned $7.49 EPS. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. Equities analysts predict that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.11%. Valero Energy's dividend payout ratio (DPR) is 38.39%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price objective on shares of Valero Energy from $149.00 to $131.00 and set a "sell" rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on Valero Energy from $172.00 to $151.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Bank of America initiated coverage on shares of Valero Energy in a research report on Thursday, October 17th. They set a "neutral" rating and a $150.00 price target for the company. Mizuho cut their price target on shares of Valero Energy from $175.00 to $171.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Finally, TD Cowen decreased their price objective on shares of Valero Energy from $145.00 to $140.00 and set a "buy" rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Valero Energy has a consensus rating of "Moderate Buy" and a consensus target price of $155.86.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.