Janney Montgomery Scott LLC Trims Holdings in Valero Energy Corporation $VLO

Key Points

• Janney Montgomery Scott LLC has reduced its holdings in Valero Energy Corporation by 3.5%, owning 69,913 shares now worth $9.4 million.
• Valero Energy reported earnings of $2.28 EPS for the last quarter, surpassing analyst estimates, but experienced a 13.3% decline in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $1.13 per share with a current payout ratio of 188.33%, indicating high returns for shareholders despite the financial challenges.

Janney Montgomery Scott LLC decreased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,913 shares of the oil and gas company's stock after selling 2,553 shares during the quarter. Janney Montgomery Scott LLC's holdings in Valero Energy were worth $9,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new stake in shares of Valero Energy in the first quarter valued at $26,000. Hoey Investments Inc. purchased a new stake in shares of Valero Energy in the 2nd quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of 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 purchasing an additional 130 shares during the last quarter. Hemington Wealth Management increased its position in Valero Energy by 39.9% in the 1st 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 period. Finally, Ransom Advisory Ltd acquired a new position in Valero Energy in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $160.37 on Friday. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $178.43. The stock has a market cap of $49.82 billion, a price-to-earnings ratio of 66.82, a PEG ratio of 1.69 and a beta of 1.05. The stock's 50 day moving average price is $151.24 and its 200 day moving average price is $136.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

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

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is 188.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VLO shares. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and upped their price target for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Morgan Stanley lowered Valero Energy from an "overweight" rating to an "equal weight" rating and increased their price target for the stock from $160.00 to $175.00 in a research note on Friday. Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and increased their target price for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Valero Energy in a report on Saturday, September 27th. Finally, Piper Sandler lifted their target price on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.07.

Valero Energy Company 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.

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