Adams Asset Advisors LLC Sells 5,001 Shares of Valero Energy Corporation $VLO

Key Points

• Adams Asset Advisors LLC reduced its stake in Valero Energy by 7.0%, selling 5,001 shares, and now holds 65,962 shares, making it the 26th largest position in its portfolio.
• Valero Energy reported a Q2 earnings per share of $2.28, significantly above analysts' estimates, while its quarterly revenue was $29.89 billion, down 13.3% year-over-year.
• The company announced a quarterly dividend of $1.13, representing a 2.9% dividend yield, with a payout ratio exceeding 188%.

Adams Asset Advisors LLC trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,962 shares of the oil and gas company's stock after selling 5,001 shares during the quarter. Valero Energy comprises about 1.2% of Adams Asset Advisors LLC's holdings, making the stock its 26th largest position. Adams Asset Advisors LLC's holdings in Valero Energy were worth $8,867,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Kestra Private Wealth Services LLC grew its holdings in shares of Valero Energy by 18.5% during the first quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after purchasing an additional 3,503 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Valero Energy by 8.9% in the first quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock worth $6,138,000 after purchasing an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Valero Energy in the first quarter worth approximately $766,000. Sendero Wealth Management LLC increased its position in shares of Valero Energy by 11.0% in the first quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock worth $2,668,000 after purchasing an additional 2,000 shares during the last quarter. Finally, FORA Capital LLC bought a new position in shares of Valero Energy in the first quarter worth approximately $866,000. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Trading Down 0.5%

NYSE VLO opened at $156.78 on Monday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $163.02. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $145.24 and a 200-day moving average of $132.92. The firm has a market cap of $48.70 billion, a PE ratio of 65.33, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the company posted $2.71 EPS. Valero Energy's revenue for the quarter was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on VLO shares. Wells Fargo & Company upped their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Evercore ISI started coverage on Valero Energy in a research note on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target for the company. Finally, Piper Sandler lifted their price target on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday. Two 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

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.

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.