Valero Energy Corporation $VLO Shares Sold by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in Valero Energy by 6.6%, now holding 28,698 shares valued at approximately $3.79 million.
• Valero Energy reported earnings of $2.28 per share for the last quarter, significantly beating estimates, while quarterly revenue was down 13.3% year-over-year.
• The company declared a quarterly dividend of $1.13 per share, with a yield of 3.3% and a payout ratio of 188.33%.

Steward Partners Investment Advisory LLC trimmed its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,698 shares of the oil and gas company's stock after selling 2,033 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Valero Energy were worth $3,790,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy during the first quarter worth approximately $26,000. Hazlett Burt & Watson Inc. increased its position in shares of 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 worth $28,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy during the fourth quarter worth approximately $29,000. Hemington Wealth Management increased its position in shares of Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 95 shares in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Valero Energy during the first quarter worth approximately $44,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on VLO shares. Morgan Stanley upped their target price on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Evercore ISI started coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Finally, TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and upped their target price for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $154.47.

Valero Energy Trading Up 3.5%

Valero Energy stock traded up $4.9090 during midday trading on Friday, reaching $145.1990. 2,106,347 shares of the stock traded hands, compared to its average volume of 2,432,003. The company has a 50-day simple moving average of $140.59 and a two-hundred day simple moving average of $130.93. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The firm has a market cap of $45.11 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 3.28 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.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same period last year, the business posted $2.71 EPS. Valero Energy's revenue for the quarter was down 13.3% on a year-over-year basis. Research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced 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 yield of 3.1%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

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.