Cresset Asset Management LLC Lowers Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Cresset Asset Management LLC has reduced its stake in Valero Energy Corporation (VLO) by 11.9%, holding 45,758 shares worth approximately $6.04 million after selling 6,195 shares.
• Valero Energy recently reported quarterly earnings of $2.28 EPS, exceeding analyst expectations of $1.66 EPS, despite a 13.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.13 per share, with an annualized yield of 3.3% and a significant payout ratio of 188.33%.

Cresset Asset Management LLC lessened its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,758 shares of the oil and gas company's stock after selling 6,195 shares during the quarter. Cresset Asset Management LLC's holdings in Valero Energy were worth $6,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its position in shares of 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 in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Valero Energy in the first quarter valued at approximately $766,000. Sendero Wealth Management LLC lifted its position in shares of Valero Energy by 11.0% in the first quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after acquiring an additional 2,000 shares in the last quarter. AlTi Global Inc. lifted its position in shares of Valero Energy by 18.2% in the fourth quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock valued at $8,585,000 after acquiring an additional 9,963 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of Valero Energy by 130.0% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock valued at $967,000 after acquiring an additional 4,456 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Trading Up 0.7%

Shares of NYSE VLO opened at $136.73 on Monday. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $139.81 and a 200-day simple moving average of $130.74. The stock has a market capitalization of $42.48 billion, a PE ratio of 56.97, a PEG ratio of 3.24 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results 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 company 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%. Valero Energy's revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 EPS. On average, equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

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 issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's payout ratio is 188.33%.

Analyst Ratings Changes

VLO has been the subject of several recent research reports. Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and increased their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. UBS Group increased their price target on Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a report on Friday, July 25th. Barclays increased their price target on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $154.47.

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.

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