SVB Wealth LLC Sells 11,973 Shares of Valero Energy Corporation $VLO

Key Points

• SVB Wealth LLC has reduced its stake in Valero Energy Corporation by 22.6%, selling 11,973 shares, leaving them with 41,031 shares valued at approximately $5.4 million.
• Valero Energy reported an earnings per share (EPS) of $2.28 for the recent quarter, exceeding estimates, while revenue decreased 13.3% year-over-year.
• The company has declared a quarterly dividend of $1.13 per share, resulting in a 3.1% yield, with an ex-dividend date on July 31.

SVB Wealth LLC lowered its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 22.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,031 shares of the oil and gas company's stock after selling 11,973 shares during the period. SVB Wealth LLC's holdings in Valero Energy were worth $5,419,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Summit Financial LLC grew its position in Valero Energy by 4.6% in the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock valued at $239,000 after acquiring an additional 79 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake 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 period. Proficio Capital Partners LLC lifted its stake in shares of Valero Energy by 4.6% in the first quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock worth $266,000 after acquiring an additional 89 shares during the period. Horizon Investments LLC lifted its stake in Valero Energy by 1.8% in the first quarter. Horizon Investments LLC now owns 5,456 shares of the oil and gas company's stock valued at $721,000 after buying an additional 94 shares during the period. Finally, 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 buying an additional 95 shares during the period. Institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

VLO traded up $3.78 during trading on Wednesday, reaching $150.73. 2,149,233 shares of the company were exchanged, compared to its average volume of 3,252,223. The company's 50-day moving average is $140.88 and its two-hundred day moving average is $131.05. The company has a market cap of $46.82 billion, a price-to-earnings ratio of 62.80, a P/E/G ratio of 3.43 and a beta of 1.03. 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 12-month low of $99.00 and a 12-month high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 EPS. Research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VLO shares. Piper Sandler boosted their price objective on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. UBS Group boosted their price objective on Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their price target on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. 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 company's stock. According to data from MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and a consensus price target of $154.47.

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.