QRG Capital Management Inc. Trims Stock Position in Valero Energy Corporation $VLO

Key Points

• QRG Capital Management Inc. reduced its stake in Valero Energy Corporation by 43.5% during the second quarter, selling 40,888 shares to own a total of 53,119 shares valued at $7.14 million.
• Valero Energy reported earnings of $2.28 per share for the last quarter, exceeding analysts' expectations of $1.66, despite a year-over-year revenue decline of 13.3%.
• The company announced a quarterly dividend of $1.13, resulting in an annualized dividend yield of 2.8% and a high dividend payout ratio of 188.33%.

QRG Capital Management Inc. trimmed its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 43.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,119 shares of the oil and gas company's stock after selling 40,888 shares during the quarter. QRG Capital Management Inc.'s holdings in Valero Energy were worth $7,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in Valero Energy in the first quarter worth approximately $26,000. Hoey Investments Inc. acquired a new position in shares of Valero Energy in the 2nd quarter valued at $26,000. Hazlett Burt & Watson Inc. grew 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 purchasing an additional 130 shares during the period. Hemington Wealth Management grew its holdings in shares of Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 95 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Valero Energy during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

Valero Energy stock opened at $160.37 on Monday. The company's 50 day moving average is $151.24 and its two-hundred day moving average is $136.96. The firm has a market cap of $49.82 billion, a PE ratio of 66.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $178.43.

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 earnings per share 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 return on equity of 5.76% and a net margin of 0.62%.The company's revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 earnings per share. On average, research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Wall Street Analyst Weigh In

A number of research analysts have commented on VLO shares. Piper Sandler upped their target price on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Morgan Stanley lowered shares of Valero Energy from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $160.00 to $175.00 in a report on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Valero Energy in a research report on Saturday, September 27th. Evercore ISI boosted their target price on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. Finally, TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and raised their price target for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $166.07.

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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