Valero Energy Corporation $VLO Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments Inc. reduced its holdings in Valero Energy Corporation by 3.1%, selling 52,783 shares, which now represent about 2.5% of its total investments.
• Valero Energy reported a $2.28 EPS for the last quarter, significantly exceeding analysts' estimates of $1.66, despite a 13.3% decline in year-over-year revenue.
• The company recently declared a quarterly dividend of $1.13, yielding 2.9%, but has a notably high payout ratio of 188.33%.

Montrusco Bolton Investments Inc. decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,664,007 shares of the oil and gas company's stock after selling 52,783 shares during the quarter. Valero Energy makes up approximately 2.5% of Montrusco Bolton Investments Inc.'s holdings, making the stock its 15th biggest holding. Montrusco Bolton Investments Inc. owned 0.53% of Valero Energy worth $223,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MGO One Seven LLC raised its stake in Valero Energy by 5.6% during the second quarter. MGO One Seven LLC now owns 23,443 shares of the oil and gas company's stock worth $3,151,000 after acquiring an additional 1,238 shares during the period. Cypress Capital Group boosted its stake in Valero Energy by 8.5% during the 2nd quarter. Cypress Capital Group now owns 18,723 shares of the oil and gas company's stock valued at $2,517,000 after purchasing an additional 1,468 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Valero Energy by 19.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,449,814 shares of the oil and gas company's stock valued at $200,089,000 after purchasing an additional 238,602 shares during the period. SPC Financial Inc. boosted its stake in Valero Energy by 8.1% during the 2nd quarter. SPC Financial Inc. now owns 9,372 shares of the oil and gas company's stock valued at $1,260,000 after purchasing an additional 700 shares during the period. Finally, CWM LLC boosted its stake in Valero Energy by 8.5% during the 2nd quarter. CWM LLC now owns 42,999 shares of the oil and gas company's stock valued at $5,780,000 after purchasing an additional 3,354 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Down 2.4%

VLO stock opened at $158.19 on Monday. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $178.43. The company has a market capitalization of $49.14 billion, a price-to-earnings ratio of 65.91, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The firm's 50-day moving average is $153.45 and its two-hundred day moving average is $137.98. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly 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 company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same period in the previous year, the firm earned $2.71 EPS. Valero Energy's revenue was down 13.3% on a year-over-year basis. On average, analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Valero Energy from $151.00 to $169.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. Morgan Stanley lowered shares of Valero Energy from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. Wells Fargo & Company boosted their target price on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Finally, Evercore ISI boosted their price target on shares of Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.80.

Valero Energy 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.

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