Community Financial Services Group LLC Sells 2,590 Shares of Valero Energy Corporation $VLO

Key Points

• Community Financial Services Group LLC reduced its holdings in Valero Energy Corporation by 17.6%, now owning 12,100 shares worth approximately $1.63 million after selling 2,590 shares during the second quarter.
• Valero Energy announced a quarterly dividend of $1.13, resulting in an annualized dividend yield of 2.7%, despite a high dividend payout ratio of 188.33%.
• Analysts have mixed opinions on Valero, with several upgrades raising price targets, including Bank of America lifting its target from $152 to $179 and rating it as a buy.

Community Financial Services Group LLC lowered its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,100 shares of the oil and gas company's stock after selling 2,590 shares during the quarter. Community Financial Services Group LLC's holdings in Valero Energy were worth $1,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its stake in Valero Energy by 18.5% in 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 during the period. Hancock Whitney Corp grew its stake in Valero Energy by 8.9% during the first quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock worth $6,138,000 after buying an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Valero Energy during the first quarter worth about $766,000. Sendero Wealth Management LLC grew its stake 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 buying an additional 2,000 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in Valero Energy during the first quarter worth about $866,000. Institutional investors own 78.69% of the company's stock.

Valero Energy Trading Down 1.5%

Shares of NYSE VLO opened at $167.63 on Thursday. The company's 50 day simple moving average is $150.40 and its 200 day simple moving average is $136.51. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The firm has a market capitalization of $52.07 billion, a P/E ratio of 69.84, a P/E/G ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

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 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. On average, analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were issued a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 2.7%. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VLO. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Piper Sandler increased their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. UBS Group increased their price target on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, 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 research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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.

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