Commonwealth Equity Services LLC Trims Position in Valero Energy Corporation (NYSE:VLO)

Key Points

• Commonwealth Equity Services LLC has decreased its holdings in Valero Energy Corporation by 8.6%, selling 18,224 shares to now own 194,469 shares valued at $25.68 million.
• Valero Energy recently announced a quarterly dividend of $1.13 per share, with a dividend yield of 3.4%.
• The company's earnings per share (EPS) for the last quarter was reported at $2.28, exceeding expectations by 62 cents, although revenue declined 13.3% year-over-year.

Commonwealth Equity Services LLC decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,469 shares of the oil and gas company's stock after selling 18,224 shares during the quarter. Commonwealth Equity Services LLC owned about 0.06% of Valero Energy worth $25,684,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VLO. Cerity Partners LLC raised its stake in shares of Valero Energy by 26.4% in the fourth quarter. Cerity Partners LLC now owns 139,875 shares of the oil and gas company's stock valued at $17,578,000 after acquiring an additional 29,215 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Valero Energy in the fourth quarter valued at $1,134,000. Texas Yale Capital Corp. raised its stake in shares of Valero Energy by 18.2% in the fourth quarter. Texas Yale Capital Corp. now owns 55,078 shares of the oil and gas company's stock valued at $6,752,000 after acquiring an additional 8,500 shares during the period. DRW Securities LLC purchased a new stake in shares of Valero Energy in the fourth quarter valued at $1,492,000. Finally, Bessemer Group Inc. grew its holdings in shares of Valero Energy by 18.9% in the fourth quarter. Bessemer Group Inc. now owns 20,106 shares of the oil and gas company's stock worth $2,465,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of Valero Energy stock traded down $0.89 during midday trading on Thursday, hitting $132.57. The company had a trading volume of 2,060,061 shares, compared to its average volume of 3,124,334. The stock has a market cap of $41.18 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 3.13 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. The company has a fifty day simple moving average of $139.06 and a 200 day simple moving average of $131.02. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. Valero Energy's revenue was down 13.3% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. As a group, analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given 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 yield of 3.4%. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VLO. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $154.00 in a report on Tuesday, May 13th. Morgan Stanley upped their price target on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler upped their price target on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Barclays upped their price target on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, UBS Group increased their target price on shares of Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy has an average rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy 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.