Valero Energy Corporation (NYSE:VLO) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Valero Energy Corporation by 31.5% during the first quarter, selling 7,885 shares and leaving them with 17,149 shares valued at approximately $2.3 million.
• Valero Energy's stock has experienced increased analyst interest, with multiple firms raising their price targets, resulting in an average price target of $154.47 and a consensus rating of Moderate Buy.
• The company recently announced a quarterly dividend of $1.13 per share, representing an annualized yield of 3.4%, and will be paid to shareholders of record on July 31st.

Atria Wealth Solutions Inc. lowered its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 31.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,149 shares of the oil and gas company's stock after selling 7,885 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Valero Energy were worth $2,265,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Valero Energy by 18.9% during the 4th quarter. Bessemer Group Inc. now owns 20,106 shares of the oil and gas company's stock worth $2,465,000 after purchasing an additional 3,200 shares during the period. Scotia Capital Inc. boosted its holdings in Valero Energy by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 21,295 shares of the oil and gas company's stock valued at $2,611,000 after purchasing an additional 626 shares during the period. Heritage Trust Co purchased a new position in Valero Energy in the fourth quarter valued at $1,245,000. Concorde Asset Management LLC lifted its holdings in Valero Energy by 10.1% during the 4th quarter. Concorde Asset Management LLC now owns 1,922 shares of the oil and gas company's stock worth $236,000 after buying an additional 177 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Valero Energy by 9.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 77,622 shares of the oil and gas company's stock worth $9,520,000 after buying an additional 6,791 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VLO shares. 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 target price on the stock. Barclays boosted their price target on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Piper Sandler upped their target price on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. cut their price target on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley upped their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Stock Performance

NYSE VLO traded up $0.62 during trading hours on Wednesday, reaching $134.00. The company's stock had a trading volume of 635,886 shares, compared to its average volume of 3,320,250. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $139.27 and a 200 day simple moving average of $130.84. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $155.12. The stock has a market cap of $41.63 billion, a PE ratio of 55.85, a PEG ratio of 3.12 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results 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. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter last year, the company posted $2.71 earnings per share. Valero Energy's revenue was down 13.3% on a year-over-year basis. 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 company also recently declared 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. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.4%. Valero Energy's dividend payout ratio (DPR) 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.