HITE Hedge Asset Management LLC Has $10.14 Million Stock Position in Valero Energy Co. (NYSE:VLO)

HITE Hedge Asset Management LLC grew its position in Valero Energy Co. (NYSE:VLO) by 136.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,117 shares of the oil and gas company’s stock after purchasing 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.

Other hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Valero Energy during the 2nd quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new stake in shares of Valero Energy in the third quarter valued at approximately $28,000. Lynx Investment Advisory purchased a new position in Valero Energy in the second quarter worth $29,000. Summit Securities Group LLC purchased a new stake in Valero Energy during the 2nd quarter worth about $31,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Valero Energy in the 3rd quarter valued at about $34,000. 78.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group reduced their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Bank of America began coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective for the company. Barclays dropped their price target 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. Finally, Mizuho lowered their price target on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.86.

Valero Energy Price Performance

Shares of VLO stock opened at $140.14 on Tuesday. The company has a market capitalization of $44.37 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.60 and a beta of 1.40. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79. The firm has a fifty day simple moving average of $136.92 and a 200-day simple moving average of $145.19. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter last year, the company posted $7.49 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities research analysts anticipate that Valero Energy Co. will post 8.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

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.