Johnson Investment Counsel Inc. Sells 2,233 Shares of Valero Energy Corporation $VLO

Key Points

• Johnson Investment Counsel Inc. reduced its holdings in Valero Energy Corporation by 20.6%, selling 2,233 shares and now owns 8,587 shares valued at approximately $1,154,000.
• UBS Group raised Valero's target price from $165.00 to $183.00 and gave the stock a "buy" rating, while TD Cowen downgraded it from a "buy" to a "hold" with a price objective increase to $140.00.
• Valero Energy recently announced a quarterly dividend of $1.13 per share, resulting in an annualized payout of $4.52 and a yield of 2.8%, despite having a high dividend payout ratio of 188.33%.

Johnson Investment Counsel Inc. lowered its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 20.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,587 shares of the oil and gas company's stock after selling 2,233 shares during the period. Johnson Investment Counsel Inc.'s holdings in Valero Energy were worth $1,154,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after purchasing an additional 3,503 shares during the period. Hancock Whitney Corp boosted its stake in Valero Energy by 8.9% in the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock worth $6,138,000 after purchasing an additional 3,790 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Valero Energy in the 1st quarter worth $766,000. FORA Capital LLC acquired a new position in Valero Energy in the 1st quarter worth $866,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in Valero Energy in the 1st quarter worth $462,000. Institutional investors own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VLO shares. UBS Group upped their target price on shares of Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and increased their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Barclays increased their price objective on shares of Valero Energy from $151.00 to $169.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. Evercore ISI increased their price objective on shares of Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. Finally, Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $169.80.

Valero Energy Stock Up 0.5%

Shares of VLO stock opened at $162.19 on Wednesday. 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's 50-day moving average is $154.47 and its 200-day moving average is $138.35. The stock has a market cap of $50.38 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 1.66 and a beta of 1.05. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. Sell-side analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

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

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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