Cypress Capital Group Has $2.28 Million Position in Valero Energy Corporation (NYSE:VLO)

Key Points

• Cypress Capital Group reduced its holdings in Valero Energy by 15.1%, now owning 17,255 shares valued at approximately $2.28 million.
• Valero Energy reported earnings per share of $2.28 in its last quarterly result, exceeding analyst expectations by $0.62 despite a 13.3% year-over-year revenue decline.
• A quarterly dividend of $1.13 per share has been declared, representing an annualized dividend yield of 3.4% and a dividend payout ratio of 188.33%.

Cypress Capital Group reduced its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,255 shares of the oil and gas company's stock after selling 3,062 shares during the period. Cypress Capital Group's holdings in Valero Energy were worth $2,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after acquiring an additional 4,155,522 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock worth $1,510,586,000 after buying an additional 736,533 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Valero Energy by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock worth $973,119,000 after buying an additional 429,252 shares during the period. Invesco Ltd. boosted its position in shares of Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after buying an additional 1,247,196 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Valero Energy during the first quarter worth approximately $529,864,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VLO shares. Morgan Stanley boosted their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. UBS Group boosted their price objective on Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research 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 stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Piper Sandler boosted their price objective on Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Evercore ISI started coverage on Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective for the company. Five research 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 has a consensus rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Price Performance

Shares of NYSE VLO traded up $2.70 during trading on Wednesday, hitting $136.08. The company had a trading volume of 2,092,854 shares, compared to its average volume of 2,931,809. The company has a market cap of $42.27 billion, a P/E ratio of 56.70, a PEG ratio of 3.16 and a beta of 1.03. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $155.12. The business's 50-day moving average is $139.46 and its 200 day moving average is $130.88. 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 (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 company 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 revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 earnings per share. Equities research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 dividend yield of 3.3%. 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.