I have read here some opinions about the origin of the surname of Villalobos and there are not exact. The origin is in a little town in Spain, in the province of zamora, named Villalobos (town of wolfs, but not for any special reason. It is a very old name.) The surname could have several origins because when a person went out of his town centuries ago, in the new town called him with the name of his town of origin: "de Villalobos", "de Madrid", "de Toledo", etc. and this people had not relations, only they had born in this town.
But there are a very old family named Villalobos, because the "honor", the domain of this town of Villalobos was given to this family by the king in the XII century. The medievalist scholars can trace the origins of this family as far as the X century. The family lost the domain of the town after the black plague, in 1.350, when the sir of this moment: Fernando rodríguez de Villalobos, died of the plague withe all his sons. The family continued in other branches.