Archford Capital Strategies LLC Lowers Holdings in Valero Energy Corporation $VLO

Key Points

• Archford Capital Strategies LLC significantly reduced its holdings in Valero Energy by 60.9% in Q2, now owning 8,120 shares worth approximately $1.09 million.
• Valero's recent quarterly earnings exceeded expectations, reporting $2.28 EPS against an estimated $1.66, despite a 13.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.13, reflecting an annualized yield of 2.6% with a payout ratio of 188.33%.

Archford Capital Strategies LLC lowered its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 60.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,120 shares of the oil and gas company's stock after selling 12,629 shares during the quarter. Archford Capital Strategies LLC's holdings in Valero Energy were worth $1,091,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in VLO. Hoey Investments Inc. acquired a new stake in Valero Energy in the second quarter valued at about $26,000. Wayfinding Financial LLC acquired a new position in Valero Energy during the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after buying an additional 130 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Valero Energy in the 1st quarter valued at approximately $43,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of VLO opened at $175.72 on Monday. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43. The stock has a market cap of $54.59 billion, a P/E ratio of 73.22, a PEG ratio of 1.85 and a beta of 1.10. 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 company has a 50-day moving average of $148.97 and a two-hundred day moving average of $135.75.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating 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 business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period in the prior year, the business earned $2.71 earnings per share. The company's quarterly revenue was down 13.3% on a year-over-year basis. As a group, research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is 188.33%.

Wall Street Analyst Weigh In

VLO has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and upped their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Morgan Stanley increased 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. Mizuho boosted their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Finally, Raymond James Financial upped their target price on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 9th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

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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