Valero Energy Corporation (NYSE:VLO) Shares Sold by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC sold 4,001 shares of Valero Energy Corporation, reducing its holdings by 62.6% in the first quarter, leaving it with 2,391 shares valued at $316,000.
• Valero Energy's latest earnings report highlighted a net margin of 0.62% and a Revenue of $29.89 billion, which exceeded analyst estimates.
• The company announced a quarterly dividend of $1.13 per share, which translates to an annualized dividend of $4.52 and a yield of 3.18%.

Drive Wealth Management LLC decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 62.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,391 shares of the oil and gas company's stock after selling 4,001 shares during the period. Drive Wealth Management LLC's holdings in Valero Energy were worth $316,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of Valero Energy by 5.7% in the 4th quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock worth $973,119,000 after acquiring an additional 429,252 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Valero Energy by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company's stock valued at $844,775,000 after purchasing an additional 100,248 shares during the period. Norges Bank bought a new stake in shares of Valero Energy in the fourth quarter valued at approximately $669,400,000. Franklin Resources Inc. raised its position in shares of Valero Energy by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 4,759,172 shares of the oil and gas company's stock valued at $583,427,000 after purchasing an additional 71,587 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Valero Energy by 15.9% in the fourth quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock valued at $472,077,000 after acquiring an additional 529,513 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

NYSE:VLO traded down $3.80 during trading hours on Wednesday, hitting $140.93. 1,694,216 shares of the stock traded hands, compared to its average volume of 3,373,715. The company has a market cap of $44.14 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 3.39 and a beta of 1.00. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $167.78. The stock has a 50 day moving average price of $138.11 and a 200 day moving average price of $131.10.

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 for the quarter, topping the consensus estimate of $1.66 by $0.62. The company had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. Valero Energy's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 earnings per share. Sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Analyst Ratings Changes

A number of equities analysts have recently commented on VLO shares. Evercore ISI started coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price objective for the company. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and raised their target price for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Scotiabank dropped their price objective on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Wells Fargo & Company lifted their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Mizuho lifted their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

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.