Credit Agricole S A Trims Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Credit Agricole S A has reduced its holdings in Valero Energy Corporation by 61.5%, owning 53,326 shares valued at approximately $7.04 million after selling 85,347 shares in the first quarter.
• Valero Energy reported $2.28 earnings per share in its last quarterly earnings, exceeding analysts' expectations by $0.62, although revenue was down 13.3% year-over-year.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized yield of 3.2%, despite a high dividend payout ratio of 188.33%.

Credit Agricole S A reduced its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 61.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,326 shares of the oil and gas company's stock after selling 85,347 shares during the quarter. Credit Agricole S A's holdings in Valero Energy were worth $7,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Valero Energy during the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Valero Energy during the 4th quarter valued at $29,000. Hemington Wealth Management boosted 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 worth $43,000 after buying an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in Valero Energy in the 1st quarter worth approximately $44,000. 78.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VLO shares. Barclays raised 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. Piper Sandler lifted their price objective on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, July 28th. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Trading Up 3.5%

Shares of NYSE:VLO traded up $4.9090 during midday trading on Friday, reaching $145.1990. 2,106,347 shares of the company's stock were exchanged, compared to its average volume of 2,397,712. The firm's 50 day simple moving average is $140.59 and its two-hundred day simple moving average is $130.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The stock has a market cap of $45.11 billion, a price-to-earnings ratio of 60.50, a P/E/G ratio of 3.39 and a beta of 1.03. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company's quarterly revenue was down 13.3% on a year-over-year basis. During the same period last year, the company earned $2.71 EPS. As a group, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

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 paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

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.