Amundi Cuts Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Amundi has reduced its stake in Valero Energy Corporation by 7.4% in the first quarter, now holding about 2.3 million shares valued at approximately $304 million.
• Valero reported earnings of $2.28 per share, beating estimates by $0.62, but experienced a 13.3% year-over-year decline in revenue.
• The company also declared a quarterly dividend of $1.13, with an annualized yield of 2.9% and a high payout ratio of 188.33%.

Amundi trimmed its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,304,246 shares of the oil and gas company's stock after selling 184,416 shares during the quarter. Amundi owned approximately 0.74% of Valero Energy worth $304,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Valero Energy during the first quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its holdings in Valero Energy by 156.6% in 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. bought a new stake in Valero Energy in the fourth quarter worth approximately $29,000. Hemington Wealth Management increased its holdings in Valero Energy by 39.9% in 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 bought a new stake in Valero Energy in the first quarter worth approximately $44,000. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research analyst reports. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Piper Sandler lifted their target price on Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Mizuho lifted their target price on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and an average target price of $156.40.

Valero Energy Stock Up 0.8%

Valero Energy stock traded up $1.26 during mid-day trading on Friday, reaching $156.65. The stock had a trading volume of 2,599,302 shares, compared to its average volume of 2,107,999. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $159.26. The stock's 50-day simple moving average is $143.44 and its 200-day simple moving average is $132.10. The firm has a market capitalization of $48.66 billion, a PE ratio of 65.27, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

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

About Valero Energy

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.