Valero Energy Co. (NYSE:VLO) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its position in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 75.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,950 shares of the oil and gas company's stock after selling 18,600 shares during the quarter. Hennessy Advisors Inc.'s holdings in Valero Energy were worth $786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Valero Energy during the fourth quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $37,000. Creative Capital Management Investments LLC grew its stake in shares of Valero Energy by 122.0% in the fourth quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company's stock valued at $41,000 after buying an additional 183 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $52,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on VLO. Scotiabank lowered their target price on Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler lowered their target price on Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Morgan Stanley lowered their target price on Valero Energy from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James lowered their target price on Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Valero Energy presently has an average rating of "Buy" and a consensus price target of $151.93.

Valero Energy Price Performance

Shares of VLO opened at $134.04 on Monday. The firm has a market cap of $41.98 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.93 and a beta of 0.99. The stock has a 50 day moving average of $122.26 and a 200-day moving average of $127.41. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 52 week low of $99.00 and a 52 week high of $167.78.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). The firm had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Valero Energy's revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.82 EPS. As a group, analysts forecast that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th will be given a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $4.52 annualized dividend and a dividend yield of 3.37%. Valero Energy's payout ratio is 159.72%.

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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