Ceredex Value Advisors LLC Decreases Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Ceredex Value Advisors LLC reduced its stake in Valero Energy Corporation by 10.0% during Q1, now owning 249,400 shares valued at approximately $32.94 million.
• Valero Energy reported earnings of $2.28 EPS in its last quarter, surpassing analysts' estimates, although revenue was down 13.3% compared to the previous year.
• The company recently declared a quarterly dividend of $1.13 per share, representing an annualized yield of 3.1% with a payout ratio of 188.33%.

Ceredex Value Advisors LLC decreased its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,400 shares of the oil and gas company's stock after selling 27,650 shares during the quarter. Ceredex Value Advisors LLC owned about 0.08% of Valero Energy worth $32,938,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of VLO. FORA Capital LLC acquired a new stake in Valero Energy during the 1st quarter worth about $866,000. Bank of Hawaii acquired a new stake in shares of Valero Energy in the first quarter valued at $259,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Valero Energy by 28.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,281 shares of the oil and gas company's stock worth $1,754,000 after purchasing an additional 2,922 shares during the period. Comerica Bank lifted its holdings in shares of Valero Energy by 1.8% during the 1st quarter. Comerica Bank now owns 72,541 shares of the oil and gas company's stock valued at $9,581,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its stake in Valero Energy by 10.0% in the 1st quarter. Freedom Investment Management Inc. now owns 9,673 shares of the oil and gas company's stock valued at $1,278,000 after acquiring an additional 881 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on VLO shares. Barclays upped their price objective on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and raised their price objective for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Evercore ISI assumed coverage on Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price for the company. Finally, Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and boosted their target price for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Trading Up 0.7%

VLO traded up $1.11 on Friday, hitting $152.27. The company had a trading volume of 2,242,681 shares, compared to its average volume of 3,239,750. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The business's fifty day simple moving average is $141.34 and its 200 day simple moving average is $131.29. The company has a market cap of $47.30 billion, a PE ratio of 63.44, a PEG ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share 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 firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company's revenue was down 13.3% on a year-over-year basis. Equities research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.0%. Valero Energy's payout ratio is 188.33%.

Valero Energy Company 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.