Navellier & Associates Inc. Sells 1,846 Shares of Valero Energy Corporation (NYSE:VLO)

Key Points

• Navellier & Associates Inc. reduced its stake in Valero Energy Corporation by 9.3%, selling 1,846 shares and holding 18,013 shares worth approximately $2.38 million.
• Valero Energy reported earnings of $2.28 per share, significantly surpassing expectations, with revenue of $29.89 billion for the quarter, although experiencing a year-over-year decline of 13.3%.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized yield of 3.18% and a high dividend payout ratio of 159.72%.

Navellier & Associates Inc. cut its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,013 shares of the oil and gas company's stock after selling 1,846 shares during the period. Navellier & Associates Inc.'s holdings in Valero Energy were worth $2,379,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of Valero Energy by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock valued at $973,119,000 after buying an additional 429,252 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Valero Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company's stock valued at $844,775,000 after buying an additional 100,248 shares during the last quarter. Norges Bank purchased a new stake in shares of Valero Energy during the fourth quarter valued at $669,400,000. Franklin Resources Inc. boosted its position in shares of Valero Energy by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 4,759,172 shares of the oil and gas company's stock valued at $583,427,000 after buying an additional 71,587 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Valero Energy by 15.9% during the fourth quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock valued at $472,077,000 after buying an additional 529,513 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO traded up $1.69 on Friday, hitting $142.03. 2,786,874 shares of the company's stock traded hands, compared to its average volume of 3,458,177. The company's 50 day simple moving average is $137.66 and its 200-day simple moving average is $130.81. The firm has a market cap of $44.48 billion, a price-to-earnings ratio of 59.18, a P/E/G ratio of 2.88 and a beta of 1.00. Valero Energy Corporation has a one year low of $99.00 and a one year high of $167.78. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

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 the consensus estimate of $1.66 by $0.62. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.74% and a net margin of 0.62%. The firm's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. As a group, research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 159.72%.

Analysts Set New Price Targets

VLO has been the topic of several research reports. Mizuho raised their target price on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Morgan Stanley raised their target price on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Piper Sandler dropped their target price on Valero Energy from $160.00 to $159.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company raised their target price on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.87.

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.