Valero Energy Corporation $VLO Shares Sold by Mader & Shannon Wealth Management Inc.

Key Points

• Mader & Shannon Wealth Management cut its Valero stake by 55.8% in the third quarter, selling 11,292 shares and ending the period with 8,930 shares valued at about $3.46 million.
• Valero reported quarterly EPS of $23.90, beating analyst estimates of $21.17, while revenue of $46.10 billion also exceeded expectations and rose 43.3% year over year.
• Valero declared a quarterly dividend of $1.20 per share, equivalent to a 1.4% annual yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $406.32.

Mader & Shannon Wealth Management Inc. trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 55.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,930 shares of the oil and gas company's stock after selling 11,292 shares during the period. Valero Energy accounts for about 1.4% of Mader & Shannon Wealth Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Mader & Shannon Wealth Management Inc.'s holdings in Valero Energy were worth $3,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Canvas Wealth Advisors LLC bought a new stake in Valero Energy during the third quarter worth about $246,000. Asset One Wealth Management LLC increased its stake in shares of Valero Energy by 16.1% during the third quarter. Asset One Wealth Management LLC now owns 1,626 shares of the oil and gas company's stock worth $630,000 after purchasing an additional 225 shares during the period. International Assets Investment Management LLC grew its stake in shares of Valero Energy by 4.3% in the third quarter. International Assets Investment Management LLC now owns 2,763 shares of the oil and gas company's stock valued at $1,128,000 after acquiring an additional 113 shares in the last quarter. Heritage Family Offices LLP bought a new stake in shares of Valero Energy in the third quarter valued at approximately $295,000. Finally, Allegiance Financial Group Advisory Services LLC acquired a new position in shares of Valero Energy in the 3rd quarter valued at approximately $219,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Trading Down 1.4%

Shares of NYSE:VLO traded down $4.94 during trading on Friday, reaching $346.29. The company's stock had a trading volume of 3,336,461 shares, compared to its average volume of 2,752,991. The firm's 50 day simple moving average is $399.61 and its two-hundred day simple moving average is $289.61. The stock has a market capitalization of $99.71 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.20 and a beta of 0.58. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. Valero Energy Corporation has a 12 month low of $159.90 and a 12 month high of $461.52.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $21.17 by $2.73. The firm had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The business's revenue was up 43.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.66 earnings per share. On average, research analysts predict that Valero Energy Corporation will post 57.83 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. Valero Energy's dividend payout ratio (DPR) is currently 10.80%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Erste Group Bank downgraded Valero Energy from a "buy" rating to a "hold" rating in a research report on Thursday, August 27th. Bank of America boosted their target price on shares of Valero Energy from $395.00 to $414.00 and gave the company a "neutral" rating in a research note on Friday, October 2nd. BMO Capital Markets boosted their price target on shares of Valero Energy from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Monday, October 19th. The Goldman Sachs Group lifted their price target on Valero Energy from $457.00 to $496.00 and gave the stock a "buy" rating in a research note on Friday, October 9th. Finally, UBS Group reiterated a "buy" rating and issued a $467.00 price target (up from $355.00) on shares of Valero Energy in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $406.32.

About Valero Energy

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.

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