Valero Energy Corporation $VLO Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Valero stake by 4.8%, selling 7,951 shares; it retained 159,267 shares valued at about $61.7 million. Institutional investors collectively own 78.69% of the company.
• Valero reported quarterly EPS of $23.90, beating the $21.17 consensus, while revenue of $46.1 billion exceeded expectations and rose 43.3% year over year.
• Valero declared a quarterly dividend of $1.20 per share, equivalent to $4.80 annually and a 1.3% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $406.32.

Pictet Asset Management Holding SA lessened its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,267 shares of the oil and gas company's stock after selling 7,951 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Valero Energy worth $61,733,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Cornerstone Financial Management LLC boosted its position in shares of Valero Energy by 57.6% during the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Balance Wealth Partners LLC bought a new position in Valero Energy during the third quarter worth about $32,000. Global Assets Advisory LLC bought a new position in Valero Energy during the first quarter worth about $33,000. Latitude Advisors LLC acquired a new stake in Valero Energy during the third quarter valued at approximately $34,000. Finally, Mascoma Wealth Management LLC boosted its holdings in Valero Energy by 1,980.0% during the third quarter. Mascoma Wealth Management LLC now owns 104 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $356.64 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $102.69 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.19 and a beta of 0.58. Valero Energy Corporation has a 1-year low of $159.90 and a 1-year high of $461.52. The firm's 50-day moving average price is $399.69 and its two-hundred day moving average price is $290.45.

Valero Energy (NYSE:VLO - Get Free Report) last posted 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 company had revenue of $46.10 billion during the quarter, compared to analysts' expectations of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. Valero Energy's quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. On average, equities analysts predict that Valero Energy Corporation will post 57.83 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 24th. Valero Energy's dividend payout ratio (DPR) is currently 10.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore dropped their target price on Valero Energy from $385.00 to $325.00 in a report on Wednesday, October 28th. UBS Group reaffirmed 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. Citigroup upped their price target on Valero Energy from $485.00 to $490.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Erste Group Bank lowered Valero Energy from a "buy" rating to a "hold" rating in a research note on Thursday, August 27th. Finally, Jefferies Financial Group cut their price objective on Valero Energy from $401.00 to $394.00 and set a "hold" rating for the company in a report on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently 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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