Valero Energy Corporation $VLO Stake Reduced by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management Inc. has reduced its stake in Valero Energy Corporation by 35.0%, now holding 3,296 shares valued at $443,000.
• Valero Energy reported $2.28 earnings per share for the last quarter, exceeding expectations of $1.66, but its revenue fell 13.3% year-over-year.
• The stock's recent trading saw an increase of 2.4%, with analysts adjusting price targets, with Piper Sandler raising it to $200.00.

Wilsey Asset Management Inc. reduced its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 35.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,296 shares of the oil and gas company's stock after selling 1,774 shares during the quarter. Valero Energy comprises approximately 0.1% of Wilsey Asset Management Inc.'s holdings, making the stock its 20th largest position. Wilsey Asset Management Inc.'s holdings in Valero Energy were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its position in shares of Valero Energy by 1.6% during the fourth quarter. Mackenzie Financial Corp now owns 130,551 shares of the oil and gas company's stock worth $16,004,000 after purchasing an additional 2,030 shares during the period. Ascent Group LLC raised its position in Valero Energy by 26.4% during the fourth quarter. Ascent Group LLC now owns 5,710 shares of the oil and gas company's stock valued at $700,000 after buying an additional 1,193 shares during the period. Ameriflex Group Inc. acquired a new position in Valero Energy in the 4th quarter worth about $29,000. B. Riley Wealth Advisors Inc. increased its position in Valero Energy by 8.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,537 shares of the oil and gas company's stock worth $1,537,000 after purchasing an additional 933 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Valero Energy in the 4th quarter worth about $87,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Trading Up 2.4%

Shares of NYSE:VLO opened at $170.40 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a market cap of $52.93 billion, a PE ratio of 71.00, a P/E/G ratio of 1.80 and a beta of 1.10. The business has a 50 day moving average of $147.23 and a 200-day moving average of $134.67. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $172.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business had revenue of $29.89 billion during 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 firm's revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio is presently 188.33%.

Analysts Set New Price Targets

VLO has been the subject of several recent analyst reports. Piper Sandler upped their price target on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. UBS Group raised their price objective on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research report on Monday. Evercore ISI increased their target price on Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a report on Friday, September 19th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and raised their price target for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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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