1ST Source Bank Has $579,000 Position in Valero Energy Co. (NYSE:VLO)

1ST Source Bank grew its position in shares of Valero Energy Co. (NYSE:VLO) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,286 shares of the oil and gas company’s stock after purchasing an additional 135 shares during the period. 1ST Source Bank’s holdings in Valero Energy were worth $579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Valero Energy during the 2nd quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in shares of Valero Energy during the second quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in shares of Valero Energy in the third quarter worth $28,000. Compagnie Lombard Odier SCmA acquired a new stake in Valero Energy in the third quarter valued at $34,000. Finally, Triad Wealth Partners LLC bought a new position in Valero Energy during the 2nd quarter worth $39,000. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $129.14 on Friday. The business has a 50 day moving average price of $136.27 and a 200-day moving average price of $143.42. Valero Energy Co. has a 52 week low of $124.02 and a 52 week high of $184.79. The company has a market cap of $40.88 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.44 and a beta of 1.39. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share 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 period last year, the firm earned $7.49 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. Equities analysts anticipate that Valero Energy Co. will post 8.87 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced 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 3.31%. Valero Energy’s payout ratio is presently 38.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VLO. The Goldman Sachs Group lowered their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research report on Monday, September 16th. BMO Capital Markets decreased their price objective 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. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $169.00 to $123.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their target price 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. Finally, Barclays reduced their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.50.

About Valero Energy

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.