Skylands Capital LLC Sells 7,650 Shares of Valero Energy Corporation (NYSE:VLO)

Skylands Capital LLC reduced its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 43.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,900 shares of the oil and gas company's stock after selling 7,650 shares during the quarter. Skylands Capital LLC's holdings in Valero Energy were worth $1,307,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLO. Ameriflex Group Inc. bought a new stake in shares of Valero Energy in the 4th quarter valued at $29,000. OFI Invest Asset Management bought a new stake in shares of Valero Energy in the 4th quarter valued at $37,000. Millstone Evans Group LLC bought a new stake in Valero Energy in the fourth quarter valued at $44,000. SBI Securities Co. Ltd. bought a new stake in Valero Energy in the fourth quarter valued at $52,000. Finally, Transce3nd LLC bought a new stake in Valero Energy in the fourth quarter valued at $58,000. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

VLO stock opened at $134.76 on Friday. The firm has a market cap of $42.21 billion, a PE ratio of 47.62, a P/E/G ratio of 2.35 and a beta of 0.99. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $127.81 and a 200-day moving average of $127.67. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $167.78.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The firm had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. During the same quarter in the previous year, the company posted $3.82 EPS. The firm's revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, May 20th. Valero Energy's dividend payout ratio is 159.72%.

Analysts Set New Price Targets

VLO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price 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. Scotiabank decreased their price objective on Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective for the company. Raymond James Financial decreased their price target on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler decreased their price target on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and a consensus target price of $150.88.

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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