Valero Energy Corporation $VLO Shares Sold by Guinness Asset Management LTD

Key Points

• Guinness Asset Management LTD reduced its stake in Valero Energy Corporation by 19.6%, selling 18,423 shares and now holds 75,804 shares valued at approximately $9.99 million.
• Valero Energy reported an earnings per share (EPS) of $2.28 for the quarter, exceeding analysts' expectations of $1.66, but its revenue decreased by 13.3% year-over-year.
• The company declared a quarterly dividend of $1.13 per share, with an annualized dividend yield of 2.9%, though its payout ratio is notably high at 188.33%.

Guinness Asset Management LTD cut its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,804 shares of the oil and gas company's stock after selling 18,423 shares during the period. Guinness Asset Management LTD's holdings in Valero Energy were worth $9,996,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VLO. Wayfinding Financial LLC acquired a new position in Valero Energy during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Valero Energy during the fourth quarter valued at approximately $29,000. Hemington Wealth Management lifted its position in Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in Valero Energy during the first quarter valued at approximately $43,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Trading Down 0.6%

NYSE VLO opened at $157.55 on Friday. The company's fifty day simple moving average is $144.98 and its 200-day simple moving average is $132.71. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $163.02. 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 stock has a market cap of $48.94 billion, a P/E ratio of 65.65, a PEG ratio of 1.86 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results 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. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Equities research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's payout ratio is 188.33%.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of recent research reports. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Evercore ISI initiated coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target on the stock. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price target on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler lifted their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $158.87.

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.

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