Deutsche Bank AG Reduces Stock Position in Valero Energy Corporation (NYSE:VLO)

Key Points

• Deutsche Bank AG reduced its stake in Valero Energy by 23.8%, now owning approximately 1.1 million shares valued at $145.9 million.
• Valero Energy reported $2.28 earnings per share (EPS) for the last quarter, outperforming analysts' expectations of $1.66, but experiencing a 13.3% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.13, representing an annualized yield of 3.4%, with a payout ratio of 188.33%.

Deutsche Bank AG trimmed its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,104,691 shares of the oil and gas company's stock after selling 345,788 shares during the period. Deutsche Bank AG owned approximately 0.35% of Valero Energy worth $145,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Valero Energy by 12.0% in the 1st 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 buying an additional 4,155,522 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Valero Energy by 6.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock valued at $1,510,586,000 after buying an additional 736,533 shares during the last quarter. Ameriprise Financial Inc. grew its position in Valero Energy by 5.7% in the 4th quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock valued at $973,119,000 after buying an additional 429,252 shares during the last quarter. Northern Trust Corp grew its position in Valero Energy by 15.9% in the 4th quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock valued at $472,077,000 after buying an additional 529,513 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Valero Energy by 22.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company's stock valued at $351,151,000 after buying an additional 525,255 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on VLO shares. Raymond James Financial raised their target price on Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. reduced their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Finally, Evercore ISI started coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Valero Energy has an average rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Price Performance

Shares of NYSE:VLO traded up $0.71 during midday trading on Wednesday, hitting $134.09. 675,654 shares of the stock were exchanged, compared to its average volume of 3,320,649. The stock has a market cap of $41.65 billion, a P/E ratio of 55.87, a PEG ratio of 3.12 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The company has a 50 day moving average price of $139.27 and a 200-day moving average price of $130.84.

Valero Energy (NYSE:VLO - Get Free Report) last posted 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. The firm had revenue of $29.89 billion during 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 quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is currently 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.