Payden & Rygel Sells 46,200 Shares of Valero Energy Corporation $VLO

Key Points

• Payden & Rygel cut its Valero Energy stake by 41.3% in the fourth quarter, selling 46,200 shares and ending with 65,600 shares valued at about $10.68 million.
• Valero reported stronger-than-expected quarterly results, posting EPS of $4.22 versus the $3.16 consensus and revenue of $32.38 billion, with sales up 7% year over year.
• The company continues to reward shareholders with a dividend: Valero declared a quarterly payout of $1.20 per share, or $4.80 annualized, for a yield of about 1.9%.

Payden & Rygel trimmed its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,600 shares of the oil and gas company's stock after selling 46,200 shares during the period. Payden & Rygel's holdings in Valero Energy were worth $10,679,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in shares of Valero Energy during the 3rd quarter valued at $27,000. Torren Management LLC bought a new position in shares of Valero Energy in the 4th quarter worth about $30,000. Cypress Capital Management LLC WY bought a new position in shares of Valero Energy in the 3rd quarter worth about $34,000. Triumph Capital Management purchased a new position in Valero Energy during the 3rd quarter valued at about $35,000. Finally, Accordant Advisory Group Inc boosted its stake in Valero Energy by 194.4% during the fourth quarter. Accordant Advisory Group Inc now owns 212 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Up 3.0%

Valero Energy stock opened at $258.39 on Tuesday. Valero Energy Corporation has a one year low of $125.10 and a one year high of $260.31. The stock has a fifty day moving average of $239.59 and a 200 day moving average of $202.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. The stock has a market cap of $76.72 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.35 and a beta of 0.58.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The business had revenue of $32.38 billion during the quarter, compared to the consensus estimate of $31.38 billion. During the same period in the previous year, the company posted $0.89 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Valero Energy Corporation will post 28.26 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, May 21st. Valero Energy's payout ratio is 34.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wolfe Research reaffirmed an "underperform" rating and set a $203.00 target price on shares of Valero Energy in a research note on Tuesday, April 21st. TD Cowen boosted their price target on Valero Energy from $255.00 to $276.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. The Goldman Sachs Group upped their price target on Valero Energy from $203.00 to $237.00 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Weiss Ratings raised Valero Energy from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Finally, Citigroup boosted their target price on Valero Energy from $246.00 to $259.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.94.

Insider Buying and Selling

In other Valero Energy news, SVP Eric A. Fisher sold 400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $238.60, for a total value of $95,440.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company's stock.

Key Stories Impacting Valero Energy

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: Analysts and earnings estimate revisions are pointing higher for Valero, suggesting momentum could continue if the company keeps beating expectations. Earnings Estimates Rising for Valero Energy (VLO): Will It Gain?
• Positive Sentiment: Valero’s latest quarter reportedly crushed estimates, with management also indicating refining margins should remain strong, supporting the case for continued earnings strength. Valero Energy (VLO) Crushes Estimates in Q1, Expects Refining Margins to Remain Strong
• Positive Sentiment: The stock is also being highlighted as a strong value name and a potential buy for income-focused investors ahead of its upcoming dividend, which may be attracting buyers. Valero Energy NYSE: VLO Could Be A Buy For Its Upcoming Dividend
• Positive Sentiment: Valero was also added to a Zacks Strong Buy growth list, reinforcing the market’s view that fundamentals and valuation look attractive. Best Growth Stocks to Buy for May 18th
• Neutral Sentiment: An analyst report on Valero Energy Corp. was published, but no specific positive or negative catalyst was included in the headline details. Analyst Report: Valero Energy Corp
• Neutral Sentiment: Some commentary suggests Valero could still perform well even if oil prices fall, but that appears more like a sector strategy note than a direct company-specific catalyst. Iran Ceasefire Trade: 3 Energy Stocks to Own if Oil Falls to $80 (VLO)

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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