BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Valero Energy Corporation $VLO

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Valero Energy by 44.0%, selling 8,915 shares, leaving it with 11,337 shares valued at approximately $1.5 million.
• Valero Energy reported a quarterly EPS of $2.28, exceeding analysts' expectations of $1.66, despite a year-over-year revenue decline of 13.3%.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 3.2% with a payout ratio of 188.33%.

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 44.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,337 shares of the oil and gas company's stock after selling 8,915 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Valero Energy were worth $1,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its stake in shares of Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after acquiring an additional 3,503 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Valero Energy during the 1st quarter worth $766,000. Sendero Wealth Management LLC boosted its stake 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 worth $2,668,000 after purchasing an additional 2,000 shares during the period. AlTi Global Inc. boosted its stake 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 period. Finally, Focus Partners Advisor Solutions LLC boosted its stake in Valero Energy by 130.0% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock worth $967,000 after purchasing an additional 4,456 shares during the period. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VLO shares. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Mizuho raised their target price on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Piper Sandler raised their target price on Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Evercore ISI started coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. Finally, Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Valero Energy has an average rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Price Performance

Shares of VLO traded up $4.9090 during trading hours on Friday, reaching $145.1990. 2,106,347 shares of the company's stock traded hands, compared to its average volume of 2,397,712. The stock has a market cap of $45.11 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 3.39 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. The firm's 50 day simple moving average is $140.59 and its 200-day simple moving average is $130.86. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. Equities analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) 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.