Valero Energy Corporation $VLO Shares Sold by Stoneridge Investment Partners LLC

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

Several other hedge funds have also modified their holdings of the stock. Citizens Financial Group Inc. RI boosted its position in shares of Valero Energy by 2.2% in the first quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock worth $502,000 after acquiring an additional 82 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Valero Energy by 4.6% during the first quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock worth $266,000 after buying an additional 89 shares during the period. Horizon Investments LLC grew its stake in Valero Energy by 1.8% during the first quarter. Horizon Investments LLC now owns 5,456 shares of the oil and gas company's stock worth $721,000 after buying an additional 94 shares during the period. Hemington Wealth Management grew its stake in Valero Energy by 39.9% during the first 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 period. Finally, Field & Main Bank grew its stake in Valero Energy by 1.2% during the first quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company's stock worth $1,054,000 after buying an additional 97 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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. Morgan Stanley boosted their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler boosted their price objective on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, UBS Group boosted their price objective on shares of Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Stock Up 1.1%

Shares of NYSE VLO traded up $1.5490 during trading on Monday, reaching $146.9190. 654,115 shares of the stock were exchanged, compared to its average volume of 3,255,038. The company has a market capitalization of $45.64 billion, a price-to-earnings ratio of 61.33, a price-to-earnings-growth ratio of 3.39 and a beta of 1.03. The business's 50-day moving average price is $140.59 and its 200 day moving average price is $130.84. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion for 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 firm's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. As a group, equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.1%. Valero Energy's dividend payout ratio is currently 188.33%.

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.