Washington Trust Bank Increases Stock Position in Valero Energy Corporation (NYSE:VLO)

Washington Trust Bank boosted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,854 shares of the oil and gas company's stock after buying an additional 1,821 shares during the quarter. Washington Trust Bank's holdings in Valero Energy were worth $6,716,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in VLO. SBI Securities Co. Ltd. bought a new position in Valero Energy during the fourth quarter valued at about $52,000. Proficio Capital Partners LLC bought a new position in Valero Energy during the fourth quarter valued at about $236,000. Raymond James Financial Inc. bought a new position in Valero Energy during the fourth quarter valued at about $132,469,000. AMG National Trust Bank grew its position in Valero Energy by 32.3% during the fourth quarter. AMG National Trust Bank now owns 2,050 shares of the oil and gas company's stock valued at $251,000 after buying an additional 500 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in Valero Energy by 32.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 2,360 shares of the oil and gas company's stock valued at $290,000 after purchasing an additional 581 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VLO shares. Evercore ISI started coverage on shares of Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Mizuho upped their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. UBS Group dropped their price objective on shares of Valero Energy from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Morgan Stanley dropped their price objective on shares of Valero Energy from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $150.88.

Valero Energy Price Performance

Shares of Valero Energy stock traded down $0.70 on Monday, reaching $143.88. The stock had a trading volume of 2,537,476 shares, compared to its average volume of 3,055,702. The business's 50 day moving average is $130.58 and its two-hundred day moving average is $128.22. The company has a market cap of $45.06 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $167.78.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to analysts' expectations of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The company's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 earnings per share. As a group, research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Tuesday, May 20th. Valero Energy's dividend payout ratio is currently 159.72%.

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.