HITE Hedge Asset Management LLC Buys 43,299 Shares of Valero Energy Co. (NYSE:VLO)

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

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Valero Energy by 0.5% in 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 purchasing an additional 50,837 shares during the period. Ameriprise Financial Inc. lifted its stake in Valero Energy by 2.8% during the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company's stock valued at $1,090,532,000 after buying an additional 192,397 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Valero Energy by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company's stock worth $677,007,000 after buying an additional 237,347 shares during the period. Pacer Advisors Inc. increased its position in shares of 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 worth $484,105,000 after acquiring an additional 567,059 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Valero Energy by 3.0% in the 2nd 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 acquiring an additional 82,539 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Down 1.9 %

Shares of VLO traded down $2.64 during trading hours on Tuesday, hitting $137.50. 2,070,285 shares of the company were exchanged, compared to its average volume of 2,921,504. The firm's 50 day moving average is $136.92 and its 200-day moving average is $145.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 52 week low of $120.21 and a 52 week high of $184.79. The company has a market cap of $43.53 billion, a PE ratio of 12.40, a PEG ratio of 2.62 and a beta of 1.39.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating 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 company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the firm posted $7.49 earnings per share. The company's quarterly revenue was down 14.4% compared to the same quarter last year. On average, equities research analysts forecast that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.11%. Valero Energy's payout ratio is presently 38.39%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VLO shares. Barclays lowered their price objective on shares of Valero Energy from $146.00 to $140.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Valero Energy from $172.00 to $151.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Mizuho lowered their target price on Valero Energy from $175.00 to $171.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. BMO Capital Markets reduced their price target on shares of Valero Energy from $175.00 to $165.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lowered their price objective on shares of Valero Energy from $149.00 to $131.00 and set a "sell" rating on the stock in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and a consensus price target 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.