LSV Asset Management Sells 49,905 Shares of Valero Energy Corporation (NYSE:VLO)

Key Points

• LSV Asset Management reduced its holdings in Valero Energy Corporation by 3.4%, now owning approximately 1,403,590 shares valued at $185.37 million.
• Valero announced a quarterly dividend of $1.13, reflecting an annual yield of 3.4%, with a reported dividend payout ratio of 188.33%.
• The company's earnings report showed an EPS of $2.28, exceeding analysts' estimates and generating revenue of $29.89 billion, although down 13.3% year-over-year.

LSV Asset Management decreased its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,403,590 shares of the oil and gas company's stock after selling 49,905 shares during the period. LSV Asset Management owned about 0.45% of Valero Energy worth $185,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of VLO. Kestra Private Wealth Services LLC increased its position in Valero Energy by 18.5% in the first quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after buying an additional 3,503 shares during the period. Sendero Wealth Management LLC lifted its position in Valero Energy by 11.0% in the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after purchasing an additional 2,000 shares during the last quarter. Applied Finance Capital Management LLC boosted its stake in Valero Energy by 3.0% during the 4th quarter. Applied Finance Capital Management LLC now owns 178,293 shares of the oil and gas company's stock valued at $21,857,000 after purchasing an additional 5,203 shares during the period. AlTi Global Inc. grew its position in Valero Energy by 18.2% in the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock worth $8,585,000 after purchasing an additional 9,963 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its stake in shares of Valero Energy by 130.0% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock valued at $967,000 after purchasing an additional 4,456 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 1.5%

VLO traded up $1.98 during trading on Monday, reaching $135.16. 2,920,296 shares of the stock were exchanged, compared to its average volume of 3,402,946. The stock's 50 day moving average price is $138.61 and its two-hundred day moving average price is $131.07. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The stock has a market cap of $41.99 billion, a P/E ratio of 56.32, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. 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 issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The company's revenue was down 13.3% on a year-over-year basis. Equities analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be paid a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.3%. Valero Energy's dividend payout ratio is presently 188.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VLO shares. Evercore ISI initiated coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Barclays boosted their price objective on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Morgan Stanley increased their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Finally, Mizuho boosted their price target on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $154.47.

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.