Franklin Resources Inc. Purchases 247,630 Shares of Valero Energy Co. (NYSE:VLO)

Franklin Resources Inc. raised its position in shares of Valero Energy Co. (NYSE:VLO) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,687,585 shares of the oil and gas company’s stock after purchasing an additional 247,630 shares during the period. Franklin Resources Inc. owned approximately 1.48% of Valero Energy worth $639,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Private Wealth Advisors LLC lifted its holdings in shares of Valero Energy by 3.4% in the second quarter. International Private Wealth Advisors LLC now owns 1,970 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 65 shares during the last quarter. OmniStar Financial Group Inc. boosted its position in Valero Energy by 1.6% in the second quarter. OmniStar Financial Group Inc. now owns 4,543 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 70 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of Valero Energy by 5.5% during the second quarter. Everhart Financial Group Inc. now owns 1,366 shares of the oil and gas company’s stock worth $214,000 after buying an additional 71 shares during the last quarter. St. Johns Investment Management Company LLC increased its holdings in shares of Valero Energy by 1.4% during the second quarter. St. Johns Investment Management Company LLC now owns 5,068 shares of the oil and gas company’s stock worth $794,000 after buying an additional 72 shares in the last quarter. Finally, Magnus Financial Group LLC lifted its stake in shares of Valero Energy by 4.3% in the 2nd quarter. Magnus Financial Group LLC now owns 1,752 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 73 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VLO has been the topic of a number of research reports. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Bank of America initiated coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Citigroup decreased their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $155.50.

Valero Energy Price Performance

VLO stock opened at $129.14 on Friday. 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 company’s fifty day simple moving average is $136.27 and its 200 day simple moving average is $143.42. Valero Energy Co. has a 12-month low of $124.02 and a 12-month high of $184.79. The firm has a market cap of $40.88 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.44 and a beta of 1.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $7.49 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. On average, analysts expect that Valero Energy Co. will post 8.87 earnings per share for the current 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 issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is 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.