Fifth Third Bancorp Sells 2,377 Shares of Valero Energy Corporation $VLO

Fifth Third Bancorp reduced its position in Valero Energy Corporation (NYSE:VLO) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,025 shares of the oil and gas company’s stock after selling 2,377 shares during the quarter. Fifth Third Bancorp’s holdings in Valero Energy were worth $29,081,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Moore Capital Management LP acquired a new position in Valero Energy during the 2nd quarter valued at about $13,193,000. QRG Capital Management Inc. grew its stake in shares of Valero Energy by 5.5% during the second quarter. QRG Capital Management Inc. now owns 58,558 shares of the oil and gas company’s stock worth $15,251,000 after acquiring an additional 3,037 shares during the last quarter. QP Wealth Management LLC purchased a new stake in shares of Valero Energy during the third quarter worth about $1,423,000. Atlatl Advisers LLC purchased a new position in shares of Valero Energy in the 3rd quarter valued at approximately $10,206,000. Finally, Jennison Associates LLC raised its position in shares of Valero Energy by 377.1% in the 1st quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company’s stock valued at $102,152,000 after purchasing an additional 326,777 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLO has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Valero Energy from $485.00 to $489.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Freedom Broker lowered shares of Valero Energy from a “hold” rating to a “sell” rating and set a $276.00 price target on the stock. in a research note on Friday, October 23rd. Piper Sandler raised their price target on shares of Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Citigroup boosted their price objective on shares of Valero Energy from $485.00 to $490.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Finally, BMO Capital Markets upped their target price on Valero Energy from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $406.32.

Valero Energy Price Performance

Shares of VLO opened at $379.58 on Friday. The business’s 50-day moving average is $399.89 and its two-hundred day moving average is $294.10. The company has a market capitalization of $105.86 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.72. Valero Energy Corporation has a fifty-two week low of $159.90 and a fifty-two week high of $461.52.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.17 by $2.73. The business had revenue of $46.10 billion during the quarter, compared to analysts’ expectations of $42.71 billion. Valero Energy had a return on equity of 45.90% and a net margin of 8.44%. The company’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.66 EPS. Research analysts predict that Valero Energy Corporation will post 58.33 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 24th. Valero Energy’s payout ratio is currently 10.80%.

Key Headlines Impacting Valero Energy

These are some of the VLO headlines that stood out recently:

• Positive Sentiment: Zacks Strong Buy recognition: VLO was included in Zacks Rank #1 lists for momentum, value, and growth, as well as its broader Strong Buy list. The repeated selections may attract investor attention, though they are screening rankings rather than new company announcements. Zacks momentum list
• Positive Sentiment: Houston restart plan advances: Coverage highlighted Valero’s plan to acquire a former Houston refinery site and restart 165,000 barrels per day of capacity by the end of 2027. If executed, the project could add throughput and growth potential, although the benefits are not immediate. Houston restart plan
• Positive Sentiment: Robust refining results and shareholder returns: Recent analysis cited third-quarter net income of $6.8 billion, strong refining margins, near-record refinery utilization, a new $10 billion share-repurchase authorization, and a quarterly dividend. Strong margins and capital returns are helping underpin the positive investor narrative. Valero stock analysis

Valero Energy Company Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.