Paradiem LLC Trims Stake in Valero Energy Corporation $VLO

Key Points

• Paradiem LLC reduced its stake in Valero Energy Corporation by 15.9% in the second quarter, owning 62,666 shares worth approximately $8.42 million.
• Valero Energy reported quarterly earnings of $2.28 per share, exceeding expectations, with revenue of $29.89 billion, although down 13.3% year-over-year.
• Analysts have increased price targets for Valero Energy, with Raymond James setting a new target of $177.00, reflecting strong growth expectations for the company's stock.

Paradiem LLC lowered its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 15.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,666 shares of the oil and gas company's stock after selling 11,845 shares during the quarter. Valero Energy comprises approximately 2.1% of Paradiem LLC's portfolio, making the stock its 20th biggest position. Paradiem LLC's holdings in Valero Energy were worth $8,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLO. Park Place Capital Corp grew its stake in shares of Valero Energy by 21.8% in the 2nd quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company's stock worth $58,000 after buying an additional 75 shares during the last quarter. Greenleaf Trust grew its stake in shares of Valero Energy by 2.0% in the second quarter. Greenleaf Trust now owns 7,126 shares of the oil and gas company's stock worth $958,000 after acquiring an additional 139 shares during the last quarter. Centennial Wealth Advisory LLC bought a new position in shares of Valero Energy during the second quarter valued at $514,000. Venture Visionary Partners LLC raised its position in shares of Valero Energy by 255.6% in the 2nd quarter. Venture Visionary Partners LLC now owns 5,423 shares of the oil and gas company's stock worth $729,000 after purchasing an additional 3,898 shares during the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in Valero Energy in the 2nd quarter worth about $339,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 1.9%

Shares of VLO stock opened at $172.23 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $178.43. The stock has a market cap of $53.50 billion, a P/E ratio of 71.76, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a 50 day simple moving average of $149.49 and a two-hundred day simple moving average of $136.06.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The business 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%. The company's revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.71 EPS. On average, research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 dividend on an annualized basis and a yield of 2.6%. Valero Energy's dividend payout ratio is presently 188.33%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James Financial increased their price objective on shares of Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. Bank of America upgraded shares of 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. Wells Fargo & Company upped their price objective on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Evercore ISI lifted their target price on Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a report on Friday, September 19th. Finally, Mizuho upped their price target on Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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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