Stoneridge Investment Partners LLC Sells 6,334 Shares of Valero Energy Corporation $VLO

Key Points

• Stoneridge Investment Partners LLC sold 6,334 shares of Valero Energy, reducing its holdings by 77.5% in the first quarter; the firm now owns 1,844 shares worth $244,000.
• Valero Energy's stock has a market capitalization of $42.81 billion, and its shares are currently rated as "Moderate Buy" with an average price target of $154.47.
• The company announced a quarterly dividend of $1.13, to be paid on September 2nd, representing an annualized yield of 3.3% and a dividend payout ratio of 188.33%.

Stoneridge Investment Partners LLC decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 77.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,844 shares of the oil and gas company's stock after selling 6,334 shares during the quarter. Stoneridge Investment Partners LLC's holdings in Valero Energy were worth $244,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after acquiring an additional 4,155,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Valero Energy by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock valued at $1,510,586,000 after acquiring an additional 736,533 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Valero Energy by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock valued at $973,119,000 after acquiring an additional 429,252 shares during the last quarter. Invesco Ltd. lifted its stake in Valero Energy by 34.1% in the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock valued at $647,823,000 after acquiring an additional 1,247,196 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Valero Energy in the first quarter valued at $529,864,000. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Mizuho increased their price target on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Evercore ISI began coverage on shares of Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price objective on the stock. Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, Piper Sandler upped their price target on shares of Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Valero Energy currently has an average rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Stock Up 0.7%

VLO stock opened at $137.8070 on Wednesday. The stock has a market capitalization of $42.81 billion, a P/E ratio of 57.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12. The firm has a 50-day moving average price of $140.10 and a 200-day moving average price of $130.82.

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 firm had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. As a group, equities research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 yield of 3.3%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) 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.

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