Venturi Wealth Management LLC Decreases Stock Position in Valero Energy Corporation $VLO

Key Points

• Venturi Wealth Management LLC has decreased its stock position in Valero Energy Corporation by 74.1%, holding 2,318 shares worth $312,000 following the sale of 6,625 shares in the second quarter.
• Analysts are mixed on Valero Energy's stock, with target prices varying from $166.00 to $194.00 and a consensus rating of "Moderate Buy".
• Valero Energy recently announced a quarterly dividend of $1.13 per share, resulting in an annualized yield of 2.9% despite a high dividend payout ratio of 188.33%.

Venturi Wealth Management LLC reduced its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 74.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,318 shares of the oil and gas company's stock after selling 6,625 shares during the period. Venturi Wealth Management LLC's holdings in Valero Energy were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VLO. Wayfinding Financial LLC purchased a new stake in Valero Energy during the 1st quarter valued at $26,000. Hoey Investments Inc. purchased a new stake in Valero Energy during the 2nd quarter valued at $26,000. Hazlett Burt & Watson Inc. raised its stake in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares during the last quarter. Hemington Wealth Management raised its stake in Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Valero Energy during the 1st quarter valued at $43,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VLO has been the subject of a number of research reports. Mizuho boosted their target price on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Jefferies Financial Group boosted their target price on shares of Valero Energy from $181.00 to $194.00 and gave the company a "buy" rating in a research note on Friday. 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. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Finally, Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.80.

Valero Energy Trading Down 2.4%

Shares of VLO stock opened at $158.19 on Friday. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $178.43. The firm has a fifty day moving average price of $153.45 and a 200-day moving average price of $137.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company has a market cap of $49.14 billion, a price-to-earnings ratio of 65.91, a PEG ratio of 1.73 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, equities analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

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

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