Barings LLC Trims Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• Barings LLC reduced its stake in Valero Energy Corporation by 30.1% in the first quarter, holding 38,580 shares valued at approximately $5.1 million after selling 16,579 shares.
• Valero Energy's latest earnings report showed an earnings per share of $2.28, exceeding analysts' expectations, despite a 13.3% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $1.13 per share, with a current dividend yield of 3.4% and a payout ratio of 188.33%.

Barings LLC reduced its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,580 shares of the oil and gas company's stock after selling 16,579 shares during the quarter. Barings LLC's holdings in Valero Energy were worth $5,095,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its position 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 valued at $2,959,000 after acquiring an additional 3,503 shares in the last quarter. Sendero Wealth Management LLC boosted its position 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 purchasing an additional 2,000 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in Valero Energy by 3.0% during the fourth quarter. Applied Finance Capital Management LLC now owns 178,293 shares of the oil and gas company's stock worth $21,857,000 after purchasing an additional 5,203 shares in the last quarter. AlTi Global Inc. boosted its position in Valero Energy by 18.2% during the fourth quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock worth $8,585,000 after purchasing an additional 9,963 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its position 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 purchasing an additional 4,456 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Down 3.0%

NYSE VLO opened at $133.17 on Friday. The firm has a 50 day simple moving average of $138.61 and a 200-day simple moving average of $131.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. The firm has a market cap of $41.71 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.22 and a beta of 1.00.

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, topping analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm 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 firm earned $2.71 earnings per share. The business's quarterly revenue was down 13.3% compared to the same quarter last year. Equities research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio is presently 188.33%.

Wall Street Analyst Weigh In

VLO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Morgan Stanley increased their price target on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and increased their price target for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. 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 note on Wednesday, July 9th. Finally, 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 objective for the company. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $154.47.

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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