Covenant Multifamily Offices LLC Purchases 18,374 Shares of Valero Energy Corporation (VLO)

Covenant Multifamily Offices LLC increased its position in shares of Valero Energy Corporation (NYSE:VLO) by 62.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,904 shares of the oil and gas company’s stock after buying an additional 18,374 shares during the period. Valero Energy Corporation makes up about 2.1% of Covenant Multifamily Offices LLC’s holdings, making the stock its 10th largest position. Covenant Multifamily Offices LLC’s holdings in Valero Energy Corporation were worth $3,176,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in Valero Energy Corporation by 6.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 112,968 shares of the oil and gas company’s stock worth $7,718,000 after buying an additional 6,816 shares during the last quarter. Honkamp Krueger Financial Services Inc. ADV bought a new stake in Valero Energy Corporation during the fourth quarter worth $391,000. ARP Americas LLC bought a new stake in Valero Energy Corporation during the fourth quarter worth $326,000. JT Stratford LLC bought a new stake in Valero Energy Corporation during the fourth quarter worth $2,335,000. Finally, Private Advisor Group LLC increased its stake in Valero Energy Corporation by 124.0% in the fourth quarter. Private Advisor Group LLC now owns 25,217 shares of the oil and gas company’s stock worth $1,692,000 after buying an additional 13,961 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.

Institutional Ownership by Quarter for Valero Energy Corporation (NYSE:VLO)

Valero Energy Corporation (NYSE:VLO) opened at 66.61 on Tuesday. The firm has a 50-day moving average price of $64.34 and a 200-day moving average price of $66.07. Valero Energy Corporation has a one year low of $46.88 and a one year high of $71.40. The firm has a market cap of $29.79 billion, a PE ratio of 14.57 and a beta of 1.28.

Valero Energy Corporation (NYSE:VLO) last announced its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Valero Energy Corporation had a return on equity of 8.31% and a net margin of 2.57%. The company had revenue of $21.77 billion for the quarter, compared to the consensus estimate of $19.15 billion. During the same quarter in the previous year, the business earned $0.60 EPS. Valero Energy Corporation’s revenue was up 38.6% compared to the same quarter last year. On average, equities analysts expect that Valero Energy Corporation will post $4.70 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 7th. Investors of record on Wednesday, May 17th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, May 15th. This represents a $2.80 dividend on an annualized basis and a yield of 4.20%. Valero Energy Corporation’s dividend payout ratio is presently 61.54%.

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A number of analysts have recently weighed in on VLO shares. Credit Suisse Group reiterated a “hold” rating and set a $67.00 target price on shares of Valero Energy Corporation in a research report on Friday, March 24th. Scotiabank reiterated a “buy” rating and set a $70.00 target price on shares of Valero Energy Corporation in a research report on Monday, March 27th. Jefferies Group LLC set a $65.00 target price on Valero Energy Corporation and gave the company a “hold” rating in a research report on Wednesday, April 19th. Citigroup Inc. reiterated a “neutral” rating and set a $70.00 target price (up from $69.50) on shares of Valero Energy Corporation in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Valero Energy Corporation in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $70.02.

About Valero Energy Corporation

Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VLO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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