AlTi Global Inc. Decreases Holdings in Valero Energy Corporation $VLO

Key Points

• AlTi Global Inc. reduced its stake in Valero Energy Corporation by 4.2%, resulting in ownership of 44,877 shares valued at approximately $6.4 million.
• Valero Energy reported a Q3 EPS of $3.66, exceeding expectations by $0.51, with revenue of $32.17 billion, surpassing estimates of $28.80 billion.
• Several brokerages, including Mizuho and Bank of America, have issued updated ratings and price targets for Valero Energy, reflecting a range of buy ratings with average target prices around $173.27.

AlTi Global Inc. cut its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,877 shares of the oil and gas company's stock after selling 1,958 shares during the quarter. AlTi Global Inc.'s holdings in Valero Energy were worth $6,396,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VLO. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy during the first quarter worth about $26,000. Hoey Investments Inc. bought a new stake in Valero Energy in the 2nd quarter valued at about $26,000. GFG Capital LLC acquired a new position in shares of Valero Energy during the second quarter worth approximately $27,000. 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 purchasing an additional 130 shares in the last quarter. Finally, Hemington Wealth Management increased its stake in Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

VLO opened at $173.21 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company's 50 day simple moving average is $158.31 and its 200-day simple moving average is $140.18. Valero Energy Corporation has a one year low of $99.00 and a one year high of $178.43. The stock has a market capitalization of $53.81 billion, a P/E ratio of 72.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.15 by $0.51. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company had revenue of $32.17 billion during the quarter, compared to analysts' expectations of $28.80 billion. During the same period last year, the firm earned $1.14 EPS. The business's revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VLO. Mizuho lifted their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and upped their price objective for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Jefferies Financial Group upped their price objective on shares of Valero Energy from $181.00 to $194.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Finally, Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $173.27.

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.

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