Pacer Advisors Inc. Reduces Holdings in Valero Energy Corporation (NYSE:VLO)

Key Points

• Pacer Advisors Inc. has reduced its holdings in Valero Energy Corporation by 29.6%, selling 1,204,177 shares in the first quarter, leaving them with approximately 2.87 million shares valued at $378.78 million.
• Valero Energy reported $2.28 EPS for the last quarter, surpassing analyst expectations of $1.66, despite a 13.3% year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.13 per share, reflecting an annual dividend of $4.52 and a yield of 3.22%, with a payout ratio of 159.72%.

Pacer Advisors Inc. decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,868,011 shares of the oil and gas company's stock after selling 1,204,177 shares during the quarter. Pacer Advisors Inc. owned about 0.92% of Valero Energy worth $378,778,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. World Investment Advisors grew its holdings in shares of Valero Energy by 1.8% in the fourth quarter. World Investment Advisors now owns 4,323 shares of the oil and gas company's stock valued at $530,000 after purchasing an additional 78 shares during the period. Proficio Capital Partners LLC boosted its holdings in Valero Energy by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after purchasing an additional 89 shares during the last quarter. Providence Wealth Advisors LLC grew its stake in shares of Valero Energy by 1.1% in the 4th quarter. Providence Wealth Advisors LLC now owns 8,878 shares of the oil and gas company's stock valued at $1,086,000 after buying an additional 94 shares during the period. Field & Main Bank increased its holdings in shares of Valero Energy by 1.2% during the 1st quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company's stock worth $1,054,000 after buying an additional 97 shares during the last quarter. Finally, Heritage Wealth Management Inc. raised its position in shares of Valero Energy by 0.5% during the 1st quarter. Heritage Wealth Management Inc. now owns 19,349 shares of the oil and gas company's stock valued at $2,555,000 after buying an additional 97 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO opened at $140.56 on Friday. The company's 50 day simple moving average is $137.53 and its 200-day simple moving average is $130.68. The firm has a market cap of $44.02 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 2.52 and a beta of 1.00. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month 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 posted 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 net margin of 0.72% and a return on equity of 6.30%. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period in the previous year, the business posted $2.71 earnings per share. Valero Energy's quarterly revenue was down 13.3% on a year-over-year basis. As a group, equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 3.22%. Valero Energy's payout ratio is currently 159.72%.

Wall Street Analyst Weigh In

VLO has been the subject of several analyst reports. Barclays increased their price objective on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Mizuho raised their price objective on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Scotiabank lowered their target price on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Finally, Raymond James Financial boosted their price target on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 15th. Five equities 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's stock. According to MarketBeat.com, Valero Energy has an average rating of "Moderate Buy" and an average price target of $153.80.

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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