Recently, several institutional investors have changed their stakes in Valero Energy. Ameriprise Financial increased its holdings by 2.8% in Q2, owning 6,956,743 shares worth $1.09 billion after acquiring 192,397 shares. Dimensional Fund Advisors raised its stake by 5.8%, now owning 4,319,436 shares valued at $677 million after purchasing 237,347 shares. Putnam Investments increased its stake by 3.7%, holding 3,445,821 shares worth $448 million after acquiring 122,207 shares. Pacer Advisors grew its position by 1.9%, now owning 3,018,107 shares worth $473 million after acquiring 56,989 shares. Legal & General Group raised its stake by 3.0%, holding 2,809,355 shares valued at $440 million after buying 82,539 shares. Overall, institutional investors own 78.69% of Valero Energy.
New Price Targets from Analysts
Equities analysts have provided updates on Valero Energy’s stock. JPMorgan Chase lowered its target from $172 to $151, maintaining an “overweight” rating. Mizuho cut its target from $175 to $171 with an “outperform” rating. Scotiabank increased its target from $165 to $173, giving a sector outperform rating. Wolfe Research began coverage with an “outperform” rating and a $177 target price. StockNews.com downgraded it from buy to hold. Currently, one analyst rates it a sell, five hold, nine buy, and one strong buy. The average rating is “Moderate Buy” with a consensus price target of $165.21.
Read Our Latest Report on Valero Energy
Valero Energy Stock Overview
Valero Energy (NYSE: VLO) opened at $144.00 on Friday. Its 50-day moving average is $143.01 and 200-day moving average is $154.05. The market cap is $46.13 billion, with a PE ratio of 7.13. The companys stock has a one-year low of $119.88 and a high of $184.79.
For Q2, Valero reported earnings of $2.71 per share, surpassing estimates of $2.60. The company had revenues of $34.49 billion, exceeding the expected $32.97 billion, though down 0.1% from last year. Analysts expect earnings of $10.13 per share for the current fiscal year.
Dividend Announcement
Valero recently announced a quarterly dividend of $1.07 per share, paid on September 3rd. This equates to an annualized dividend of $4.28 and a yield of 2.97%. Its payout ratio stands at 21.20%.
About Valero Energy
Valero Energy Corporation produces and sells petroleum and low-carbon fuels internationally, operating through Refining, Renewable Diesel, and Ethanol segments.
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