Swiss National Bank Lowers Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• The Swiss National Bank reduced its stake in Valero Energy Corporation by 1.3%, owning 892,900 shares valued at approximately $117.9 million after selling 12,100 shares in the first quarter.
• Valero Energy reported earnings per share of $2.28 for the last quarter, exceeding estimates, while its revenue of $29.89 billion was also above expectations but down 13.3% year-over-year.
• The company announced a quarterly dividend of $1.13 per share, which equates to an annualized dividend yield of 3.4% and a payout ratio of 188.33%.

Swiss National Bank reduced its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 892,900 shares of the oil and gas company's stock after selling 12,100 shares during the period. Swiss National Bank owned 0.29% of Valero Energy worth $117,925,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Valero Energy during the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. grew its stake in shares of 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 acquiring an additional 130 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Valero Energy in the fourth quarter worth approximately $29,000. Hemington Wealth Management grew its stake in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 95 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Valero Energy in the first quarter worth approximately $44,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VLO shares. JPMorgan Chase & Co. reduced their price target on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. UBS Group lifted their price target 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. Wolfe Research lowered shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Evercore ISI started coverage on shares of Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Finally, TD Cowen lowered shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their target price for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Valero Energy presently has an average rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Stock Performance

VLO opened at $133.23 on Friday. The firm has a market cap of $41.39 billion, a P/E ratio of 55.51, a PEG ratio of 3.12 and a beta of 1.03. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $155.12. The company has a 50 day simple moving average of $139.15 and a two-hundred day simple moving average of $130.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

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 for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. Equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio is presently 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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