ProVise Management Group LLC Lowers Holdings in Valero Energy Corporation (NYSE:VLO)

Key Points

• ProVise Management Group LLC significantly reduced its stake in Valero Energy Corporation by 52.7%, now holding 2,574 shares worth $340,000 as of their recent SEC filing.
• Valero Energy recently reported earnings of $2.28 per share, exceeding analyst expectations, with a quarterly revenue of $29.89 billion, though year-over-year revenue has declined by 13.3%.
• The company declared a quarterly dividend of $1.13 with an annualized yield of 3.4%, despite a high dividend payout ratio of 188.33%.

ProVise Management Group LLC cut its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 52.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,574 shares of the oil and gas company's stock after selling 2,867 shares during the quarter. ProVise Management Group LLC's holdings in Valero Energy were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after purchasing an additional 3,503 shares in the last quarter. Sendero Wealth Management LLC raised its position in shares of Valero Energy by 11.0% during the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after buying an additional 2,000 shares in the last quarter. Applied Finance Capital Management LLC raised its position in shares of Valero Energy by 3.0% during the 4th quarter. Applied Finance Capital Management LLC now owns 178,293 shares of the oil and gas company's stock valued at $21,857,000 after buying an additional 5,203 shares in the last quarter. AlTi Global Inc. raised its position in shares of Valero Energy by 18.2% during the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock valued at $8,585,000 after buying an additional 9,963 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of Valero Energy by 130.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock valued at $967,000 after buying an additional 4,456 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLO has been the topic of several research reports. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and raised their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Barclays raised their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Raymond James Financial raised their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 15th. Mizuho raised their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $133.17 on Friday. The firm has a market cap of $41.71 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00. 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 company's fifty day simple moving average is $138.61 and its two-hundred day simple moving average is $131.17.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 EPS. As a group, equities analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

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

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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