Valero Energy Corporation (NYSE:VLO) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Valero Energy Corporation by 12.5%, selling 2,100 shares during the first quarter, resulting in total holdings of 14,756 shares worth approximately $1.95 million.
• Valero Energy's recent quarterly earnings report showed a significant earnings per share of $2.28, surpassing analyst estimates, but revenue fell 13.3% year-over-year to $29.89 billion.
• The company declared a quarterly dividend of $1.13 per share, with a yield of 3.4%, while its payout ratio remains notably high at 188.33%.

Maryland State Retirement & Pension System lowered its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,756 shares of the oil and gas company's stock after selling 2,100 shares during the quarter. Maryland State Retirement & Pension System's holdings in Valero Energy were worth $1,949,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Valero Energy in the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy in the first quarter valued at approximately $44,000. Finally, Hemington Wealth Management increased its holdings in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Trading Up 1.1%

NYSE VLO traded up $1.47 on Tuesday, reaching $133.24. The stock had a trading volume of 1,812,282 shares, compared to its average volume of 3,337,942. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average price of $139.22 and a two-hundred day moving average price of $130.83. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 55.52, a P/E/G ratio of 3.12 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data 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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. The business had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The company's revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.4%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Wall Street Analyst Weigh In

VLO has been the subject of several recent research reports. Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Wells Fargo & Company increased their price target on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and increased their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Barclays increased their price target on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Five 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.