Valero Energy Corporation (NYSE:VLO) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its stake in Valero Energy by 10.2% in Q1, now holding 62,456 shares worth approximately $8 million.
• Valero Energy reported a quarterly EPS of $2.28, exceeding expectations, and had a revenue of $29.89 billion, which also beat analyst projections.
• The company declared a quarterly dividend of $1.13, representing a 3.3% yield, despite a high dividend payout ratio of 188.33%.

Sienna Gestion lowered its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 10.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,456 shares of the oil and gas company's stock after selling 7,074 shares during the quarter. Sienna Gestion's holdings in Valero Energy were worth $8,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VLO. Wayfinding Financial LLC purchased a new position in shares of Valero Energy in the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. grew its stake in 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 last quarter. Ameriflex Group Inc. purchased a new position in Valero Energy during the 4th quarter worth approximately $29,000. Hemington Wealth Management grew its stake in 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 buying an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new position in Valero Energy during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VLO. UBS Group raised their price target on Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Raymond James Financial raised their price target on Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 15th. Piper Sandler increased their price objective on Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. decreased their price objective on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and increased their price objective for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Price Performance

VLO traded up $0.91 during trading on Friday, reaching $136.73. 2,037,284 shares of the stock were exchanged, compared to its average volume of 2,810,699. The business's 50 day moving average price is $139.81 and its two-hundred day moving average price is $130.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company has a market capitalization of $42.48 billion, a price-to-earnings ratio of 56.97, a P/E/G ratio of 3.24 and a beta of 1.03. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.71 earnings per share. As a group, equities research analysts anticipate 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 will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's payout ratio is 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.