AlTi Global Inc. Sells 17,958 Shares of Valero Energy Corporation $VLO

Key Points

• AlTi Global Inc. reduced its stake in Valero Energy by 27.7%, selling 17,958 shares during the first quarter, leaving it with a remaining holding worth approximately $6.19 million.
• Valero Energy's stock has seen mixed analyst ratings, with upgrades from UBS, Mizuho, and Goldman Sachs, indicating a general consensus of "Moderate Buy" and an average target price of $154.47.
• The company recently declared a quarterly dividend of $1.13 per share, representing a 2.9% dividend yield, despite a high dividend payout ratio of 188.33%.

AlTi Global Inc. lowered its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 27.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,835 shares of the oil and gas company's stock after selling 17,958 shares during the quarter. AlTi Global Inc.'s holdings in Valero Energy were worth $6,185,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kestra Private Wealth Services LLC grew its holdings in 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 buying 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 bought a new stake in Valero Energy during the first quarter worth $766,000. Sendero Wealth Management LLC grew its holdings in Valero Energy by 11.0% during 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 buying an additional 2,000 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its holdings in Valero Energy by 130.0% during 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 buying an additional 4,456 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in Valero Energy during the first quarter worth $462,000. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VLO shares. UBS Group boosted their price objective on Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Mizuho boosted their price objective on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on 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, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Stock Up 1.4%

Shares of NYSE VLO opened at $154.20 on Wednesday. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. 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 business's fifty day moving average price is $142.24 and its 200-day moving average price is $131.67. The stock has a market capitalization of $47.90 billion, a PE ratio of 64.25, a P/E/G ratio of 3.55 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS 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 firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were given a dividend of $1.13 per share. 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 dividend payout ratio is currently 188.33%.

About Valero Energy

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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