HB Wealth Management LLC Lowers Position in Valero Energy Corporation $VLO

Key Points

• HB Wealth Management LLC reduced its stake in Valero Energy by 9.7%, owning 16,887 shares valued at approximately $2.27 million after selling 1,820 shares in the second quarter.
• Valero Energy reported a quarterly earnings per share of $2.28, exceeding the consensus estimate, with revenues of $29.89 billion, but a 13.3% decline in revenue year-over-year.
• The company increased its quarterly dividend to $1.13 per share, leading to an annualized dividend yield of 2.7%, despite having a high dividend payout ratio of 188.33%.

HB Wealth Management LLC reduced its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,887 shares of the oil and gas company's stock after selling 1,820 shares during the quarter. HB Wealth Management LLC's holdings in Valero Energy were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in Valero Energy in the 2nd quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Valero Energy in the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. raised its position in Valero Energy by 156.6% in 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 during the last quarter. Ransom Advisory Ltd purchased a new stake in Valero Energy in the 1st quarter valued at $43,000. Finally, Iron Horse Wealth Management LLC purchased a new stake in Valero Energy in the 1st quarter valued at $44,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 1.5%

VLO stock opened at $167.63 on Thursday. 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 company has a market capitalization of $52.07 billion, a price-to-earnings ratio of 69.84, a PEG ratio of 1.79 and a beta of 1.05. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The stock has a fifty day moving average of $150.40 and a 200-day moving average of $136.51.

Valero Energy (NYSE:VLO - Get Free Report) last posted 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 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 firm's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, equities research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a dividend of $1.13 per share. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. Valero Energy's dividend payout ratio is presently 188.33%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VLO. Mizuho raised their target price on Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. UBS Group raised their target price on Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Raymond James Financial raised their target price on Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. TD Cowen lowered 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 report on Tuesday, July 22nd. Finally, Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $165.00.

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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