Valero Energy Corporation $VLO Shares Sold by Central Bank & Trust Co.

Key Points

• Central Bank & Trust Co. has reduced its holdings in Valero Energy by 9.0% after selling 3,394 shares, leaving it with a total of 34,466 shares valued at $4,633,000.
• Valero Energy reported an earnings per share (EPS) of $2.28 for the recent quarter, exceeding analyst expectations, while its revenue was $29.89 billion, down 13.3% year-over-year.
• Equities analysts have raised Valero's price target, with Bank of America upgrading it to "buy" and setting a target price of $179.00, indicating strong market interest.

Central Bank & Trust Co. cut its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,466 shares of the oil and gas company's stock after selling 3,394 shares during the period. Central Bank & Trust Co.'s holdings in Valero Energy were worth $4,633,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VLO. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. grew its holdings 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 valued at $28,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Valero Energy in the fourth quarter valued at approximately $29,000. Hemington Wealth Management grew its holdings in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Valero Energy in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of Valero Energy stock traded up $0.81 during trading on Wednesday, reaching $163.45. The company's stock had a trading volume of 2,892,244 shares, compared to its average volume of 2,450,127. The company has a 50-day moving average price of $146.08 and a two-hundred day moving average price of $133.52. The firm has a market cap of $50.78 billion, a PE ratio of 68.10, a P/E/G ratio of 1.85 and a beta of 1.10. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $165.65. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last announced its 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. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 EPS. On average, analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is currently 188.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VLO. Wells Fargo & Company lifted their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Raymond James Financial lifted their price target on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 9th. Bank of America upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. UBS Group lifted their price target on shares of Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Valero Energy has a consensus rating of "Moderate Buy" and an average target price of $160.47.

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.