Dimensional Fund Advisors LP Sells 302,095 Shares of Valero Energy Corporation $VLO

Key Points

• Dimensional Fund Advisors LP reduced its stake in Valero Energy by 6.7%, selling 302,095 shares and holding approximately 4.21 million shares valued at $555.85 million.
• Valero Energy reported strong quarterly earnings with an EPS of $2.28, surpassing the consensus estimate by $0.62, despite a 13.3% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized yield of 3.3%, with a payout ratio of 188.33%.

Dimensional Fund Advisors LP decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,209,056 shares of the oil and gas company's stock after selling 302,095 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.34% of Valero Energy worth $555,852,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Valero Energy during the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. raised its stake in Valero Energy by 156.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Valero Energy in the fourth quarter valued at about $29,000. Hemington Wealth Management grew its position in Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in Valero Energy in the first quarter valued at about $44,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

NYSE VLO traded up $2.4110 during trading hours on Wednesday, hitting $140.3410. The company had a trading volume of 353,523 shares, compared to its average volume of 3,273,002. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $155.12. The firm has a 50 day simple moving average of $140.10 and a 200 day simple moving average of $130.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The firm has a market capitalization of $43.60 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 3.19 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued its 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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter last year, the company earned $2.71 EPS. The firm's revenue was down 13.3% compared to the same quarter last year. Equities research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.2%. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VLO. 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 report on Tuesday, May 13th. TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Morgan Stanley boosted their price target on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Evercore ISI began coverage on Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.