Valero Energy Corporation $VLO Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Valero Energy Corporation by 28.1% in the first quarter, owning 334,785 shares worth approximately $44.2 million after selling 131,103 shares.
• Valero Energy reported a profit of $2.28 EPS for the last quarter, surpassing analysts' expectations, although revenue faced a 13.3% decline year-over-year.
• The company declared a quarterly dividend of $1.13 per share, which is a 3.3% yield, with a high dividend payout ratio of 188.33%.

Russell Investments Group Ltd. lessened its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 28.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,785 shares of the oil and gas company's stock after selling 131,103 shares during the period. Russell Investments Group Ltd. owned 0.11% of Valero Energy worth $44,206,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VLO. Vanguard Group Inc. lifted its holdings in Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock worth $5,135,043,000 after buying an additional 4,155,522 shares during the period. Charles Schwab Investment Management Inc. lifted 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 valued at $1,510,586,000 after buying an additional 736,533 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of 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 in the last quarter. Invesco Ltd. raised its stake in shares of Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after acquiring an additional 1,247,196 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Valero Energy during the first quarter valued at approximately $529,864,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

Shares of NYSE:VLO traded up $1.0580 during trading on Tuesday, hitting $137.8680. 521,765 shares of the stock traded hands, compared to its average volume of 3,285,259. The company has a fifty day moving average price of $139.99 and a two-hundred day moving average price of $130.77. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $155.12. The company has a market cap of $42.83 billion, a price-to-earnings ratio of 57.35, a P/E/G ratio of 3.24 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating 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 analyst estimates of $27 billion. During the same period last year, the company posted $2.71 EPS. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. As a group, equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VLO. Mizuho raised their price objective on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Citigroup lowered shares of Valero Energy from a "buy" rating to a "neutral" rating and upped their price target for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.