Corigliano Investment Advisers LLC Reduces Position in Valero Energy Corporation $VLO

Key Points

• Corigliano Investment Advisers LLC reduced its holdings in Valero Energy Corporation by 31.6%, selling 21,500 shares to hold a total of 46,500 shares valued at approximately $6.14 million.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, increased their stakes in Valero Energy, reflecting growing interest in the company.
• Valero recently announced a quarterly dividend of $1.13, leading to an annualized dividend of $4.52 and a yield of 2.9%, despite a payout ratio of 188.33%.

Corigliano Investment Advisers LLC decreased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 31.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,500 shares of the oil and gas company's stock after selling 21,500 shares during the quarter. Valero Energy comprises about 2.7% of Corigliano Investment Advisers LLC's portfolio, making the stock its 17th largest holding. Corigliano Investment Advisers LLC's holdings in Valero Energy were worth $6,141,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLO. Pinnacle Wealth Planning Services Inc. raised its position in Valero Energy by 1.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company's stock worth $732,000 after buying an additional 78 shares during the last quarter. Summit Financial LLC raised its position in Valero Energy by 4.6% during the 1st quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock worth $239,000 after buying an additional 79 shares during the last quarter. Keeley Teton Advisors LLC raised its position in Valero Energy by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company's stock worth $1,025,000 after buying an additional 81 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Valero Energy by 2.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock valued at $502,000 after purchasing an additional 82 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Valero Energy by 4.6% during the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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. Mizuho lifted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Raymond James Financial lifted their target price on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their target price for the company from $152.00 to $179.00 in a report on Wednesday. Finally, Barclays lifted their target price on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.40.

Valero Energy Price Performance

NYSE VLO traded up $1.26 on Friday, hitting $156.65. The company had a trading volume of 2,599,302 shares, compared to its average volume of 2,107,999. The company has a market capitalization of $48.66 billion, a PE ratio of 65.27, a PEG ratio of 1.86 and a beta of 1.10. The company's fifty day moving average price is $143.44 and its 200-day moving average price is $132.07. 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 Corporation has a 12-month low of $99.00 and a 12-month high of $159.26.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The company 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%. The firm's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. As a group, analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is presently 188.33%.

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.