Adage Capital Partners GP L.L.C. Cuts Stake in Valero Energy Corporation $VLO

Key Points

• Adage Capital Partners GP L.L.C. decreased its stake in Valero Energy Corporation by 2.8%, now owning 238,900 shares valued at approximately $31.55 million.
• Valero's recent earnings report showed a beat on analysts' expectations, posting $2.28 EPS compared to the consensus of $1.66, despite a revenue decline of 13.3% year-over-year.
• The company's quarterly dividend was recently paid at $1.13 per share, yielding 2.9% with a high dividend payout ratio of 188.33%.

Adage Capital Partners GP L.L.C. reduced its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 238,900 shares of the oil and gas company's stock after selling 6,900 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Valero Energy worth $31,552,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VLO. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy in the first quarter worth $26,000. Hazlett Burt & Watson Inc. grew its stake in shares of Valero Energy by 156.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy in the fourth quarter worth $29,000. Hemington Wealth Management grew its stake in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Valero Energy in the first quarter worth $44,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 0.0%

VLO stock opened at $155.40 on Friday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $159.26. The business's 50-day moving average is $143.00 and its two-hundred day moving average is $131.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a market cap of $48.28 billion, a price-to-earnings ratio of 64.75, a P/E/G ratio of 3.63 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. Valero Energy's revenue was down 13.3% on a year-over-year basis. As a group, analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.9%. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VLO shares. Evercore ISI started coverage on Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target on the stock. Piper Sandler upped their price target on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Barclays upped their price target on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and upped their price target for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.40.

Valero Energy Company 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.

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