AlphaQuest LLC Sells 2,779 Shares of Valero Energy Corporation $VLO

Key Points

• AlphaQuest LLC has significantly reduced its stake in Valero Energy Corporation by 73.7%, leaving them with 994 shares valued at approximately $131,000.
• Valero Energy reported an EPS of $2.28, exceeding expectations and resulting in a revenue of $29.89 billion for the quarter, although this reflects a 13.3% decline year-over-year.
• The company's recent quarterly dividend of $1.13 per share represents an annual yield of 3.0%, amidst a high dividend payout ratio of 188.33%.

AlphaQuest LLC reduced its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 73.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 994 shares of the oil and gas company's stock after selling 2,779 shares during the period. AlphaQuest LLC's holdings in Valero Energy were worth $131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC increased its position 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 valued at $2,959,000 after acquiring an additional 3,503 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Valero Energy during the 1st quarter valued at $766,000. Sendero Wealth Management LLC increased its holdings in shares of Valero Energy by 11.0% in the 1st 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 in the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of Valero Energy by 130.0% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock worth $967,000 after purchasing an additional 4,456 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Valero Energy in the first quarter worth $462,000. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VLO. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and increased their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their price objective for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.40.

Valero Energy Stock Performance

Shares of VLO stock traded up $1.23 during mid-day trading on Friday, reaching $156.62. 1,680,999 shares of the company's stock traded hands, compared to its average volume of 3,224,971. 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 firm has a market capitalization of $48.65 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $159.26. The firm has a 50 day moving average price of $143.00 and a two-hundred day moving average price of $131.97.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. On average, research 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 issued a $1.13 dividend. This represents a $4.52 annualized dividend 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%.

Valero Energy 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.