Lmcg Investments LLC Sells 10,867 Shares of Valero Energy Corporation $VLO

Key Points

• Lmcg Investments LLC reduced its holdings in Valero Energy Corporation by 16.4%, selling 10,867 shares during the second quarter, leaving them with a total of 55,363 shares valued at approximately $7.44 million.
• Valero Energy reported quarterly earnings of $2.28 per share, surpassing analysts' expectations of $1.66, despite experiencing a 13.3% year-over-year decline in revenue.
• The company's dividend yield is currently at 2.9%, with a quarterly payout of $1.13, although their payout ratio stands at a high 188.33%.

Lmcg Investments LLC trimmed its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 16.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,363 shares of the oil and gas company's stock after selling 10,867 shares during the quarter. Lmcg Investments LLC's holdings in Valero Energy were worth $7,442,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after buying an additional 4,155,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Valero Energy by 6.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the last quarter. Invesco Ltd. raised its holdings in Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Valero Energy during the 1st quarter worth about $529,864,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Performance

Shares of NYSE:VLO opened at $158.19 on Friday. The company has a market capitalization of $49.14 billion, a price-to-earnings ratio of 65.91, a P/E/G ratio of 1.73 and a beta of 1.05. The firm's 50 day simple moving average is $153.45 and its 200 day simple moving average is $137.92. 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 Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43.

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

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.9%. Valero Energy's payout ratio is currently 188.33%.

Analysts Set New Price Targets

VLO has been the subject of several recent research reports. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Barclays boosted their price objective on Valero Energy from $151.00 to $169.00 and gave the stock an "overweight" rating in a report on Tuesday. Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Piper Sandler boosted their price objective on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, Jefferies Financial Group boosted their price objective on Valero Energy from $181.00 to $194.00 and gave the stock a "buy" rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.80.

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.

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