State of New Jersey Common Pension Fund D Sells 9,803 Shares of Valero Energy Corporation $VLO

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Valero Energy Corporation by 8.3%, holding 108,869 shares valued at approximately $14.38 million.
• Valero Energy's quarterly earnings report showed earnings per share (EPS) of $2.28, exceeding expectations, despite a 13.3% decrease in year-over-year revenue.
• Analysts have a consensus rating of "Moderate Buy" for Valero Energy, with new price targets ranging from $135.00 to $172.00 set by various financial institutions.

State of New Jersey Common Pension Fund D trimmed its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,869 shares of the oil and gas company's stock after selling 9,803 shares during the period. State of New Jersey Common Pension Fund D's holdings in Valero Energy were worth $14,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VLO. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy during the 1st quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its holdings in Valero Energy by 156.6% in the first 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. bought a new position in Valero Energy during the fourth quarter valued at approximately $29,000. Hemington Wealth Management lifted its stake in Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Valero Energy during the 1st quarter worth $44,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

VLO traded up $2.5010 during midday trading on Wednesday, reaching $140.4310. 2,082,889 shares of the company's stock were exchanged, compared to its average volume of 3,284,438. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $140.10 and a two-hundred day simple moving average of $130.82. The firm has a market capitalization of $43.62 billion, a price-to-earnings ratio of 58.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. The company 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. As a group, research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.2%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Mizuho increased their price target on Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and raised their price target for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Finally, Piper Sandler boosted 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $154.47.

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.