Prudential PLC Sells 6,250 Shares of Valero Energy Corporation $VLO

Key Points

• Prudential PLC has reduced its stake in Valero Energy by 54.7%, now holding only 5,168 shares worth approximately $683,000.
• Valero Energy's stock has received recent upgrades from several analysts, with Mizuho raising the target price to $166.00 and maintaining an "outperform" rating.
• The company reported $2.28 EPS for the last quarter, exceeding estimates, but showed a 13.3% decline in revenue year-over-year.

Prudential PLC decreased its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 54.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,168 shares of the oil and gas company's stock after selling 6,250 shares during the quarter. Prudential PLC's holdings in Valero Energy were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Wayfinding Financial LLC acquired a new stake in Valero Energy in the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after buying an additional 130 shares during the period. Ameriflex Group Inc. acquired a new position in Valero Energy in the 4th quarter valued at $29,000. Hemington Wealth Management raised its holdings in Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 95 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new position in Valero Energy during the 1st quarter worth $44,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Analyst Ratings Changes

VLO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley lifted their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI initiated coverage on shares of Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective for the company. Wells Fargo & Company boosted their price target on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and upped their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Trading Up 0.1%

VLO stock traded up $0.16 during midday trading on Monday, hitting $136.96. 1,869,627 shares of the company's stock were exchanged, compared to its average volume of 2,741,674. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a market cap of $42.55 billion, a PE ratio of 57.07, a price-to-earnings-growth ratio of 3.24 and a beta of 1.03. The stock's fifty day moving average price is $139.99 and its 200-day moving average price is $130.77.

Valero Energy (NYSE:VLO - Get Free Report) last posted its 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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. The business had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same period in the prior year, the business earned $2.71 EPS. Valero Energy's revenue for the quarter was down 13.3% compared to the same quarter last year. Research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business 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 $1.13 dividend. 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 3.3%. Valero Energy's dividend payout ratio is presently 188.33%.

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.