Truist Financial Corp Reduces Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Truist Financial Corp significantly reduced its holdings in Valero Energy Corporation by 54.8%, selling 208,274 shares and holding 171,844 shares valued at approximately $23.1 million by the end of the second quarter.
• Valero Energy received multiple analyst upgrades, including a target price increase from Evercore ISI from $135.00 to $185.00, contributing to a consensus rating of "Moderate Buy" with a target price of $166.07.
• Valero Energy recently announced a quarterly dividend of $1.13 per share, yielding 2.8%, although its dividend payout ratio stands at a high 188.33%.

Truist Financial Corp reduced its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 54.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,844 shares of the oil and gas company's stock after selling 208,274 shares during the period. Truist Financial Corp owned about 0.05% of Valero Energy worth $23,099,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter worth about $26,000. Hoey Investments Inc. acquired a new position in shares of Valero Energy in the second quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its position 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. Hemington Wealth Management raised its position 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, Ransom Advisory Ltd acquired a new position in shares of Valero Energy in the first quarter worth about $43,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of recent analyst reports. Evercore ISI increased their target price on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. Raymond James Financial increased their target price on Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. Wells Fargo & Company increased their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and increased their target price for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Valero Energy in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Valero Energy has a consensus rating of "Moderate Buy" and a consensus target price of $166.07.

Valero Energy Stock Down 2.6%

Shares of VLO opened at $160.37 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy Corporation has a one year low of $99.00 and a one year high of $178.43. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 66.82, a PEG ratio of 1.73 and a beta of 1.05. The stock has a 50 day moving average price of $151.24 and a 200 day moving average price of $136.92.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data 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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same quarter last year, the business posted $2.71 earnings per share. The firm's revenue was down 13.3% compared to the same quarter last year. Equities research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.8%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

About Valero Energy

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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