State of Alaska Department of Revenue Sells 1,790 Shares of Valero Energy Corporation $VLO

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Valero Energy Corporation by 4.8%, selling 1,790 shares during the 2nd quarter, with remaining holdings valued at approximately $4.75 million.
• Valero Energy's shares recently received mixed analyst ratings, with Bank of America upgrading the stock from "neutral" to "buy" while other firms like Citigroup downgraded their ratings, reflecting varying perceptions of the stock's potential.
• The company announced a quarterly dividend of $1.13 per share, representing an annualized dividend yield of 2.6%, but has a notably high dividend payout ratio of 188.33%.

State of Alaska Department of Revenue lowered its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,309 shares of the oil and gas company's stock after selling 1,790 shares during the period. State of Alaska Department of Revenue's holdings in Valero Energy were worth $4,746,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hoey Investments Inc. bought a new stake in Valero Energy during the second quarter worth about $26,000. Wayfinding Financial LLC bought a new stake in Valero Energy during the first quarter worth about $26,000. Hazlett Burt & Watson Inc. boosted its stake in Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Valero Energy during the first quarter worth about $43,000. Finally, Iron Horse Wealth Management LLC bought a new stake in Valero Energy during the first quarter worth about $44,000. Institutional investors own 78.69% of the company's stock.

Analyst Ratings Changes

VLO has been the topic of several research reports. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and upped their target price for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Finally, TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and upped their target price for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

Valero Energy Trading Down 1.9%

Shares of VLO stock opened at $172.23 on Tuesday. The stock's fifty day moving average price is $149.49 and its two-hundred day moving average price is $136.06. The company has a market cap of $53.50 billion, a PE ratio of 71.76, a P/E/G ratio of 1.85 and a beta of 1.10. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The firm 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%.The company's revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. Equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.