Garde Capital Inc. Sells 400 Shares of Valero Energy Corporation (NYSE:VLO)

Garde Capital Inc. lessened its stake in shares of Valero Energy Corporation (NYSE:VLO) by 39.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 615 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Garde Capital Inc.’s holdings in Valero Energy were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLO. Vanguard Group Inc. grew its stake in shares of Valero Energy by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock worth $4,257,024,000 after purchasing an additional 4,805,133 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Valero Energy by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,701,232 shares of the oil and gas company’s stock worth $1,311,864,000 after purchasing an additional 413,963 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Valero Energy by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company’s stock worth $973,119,000 after purchasing an additional 429,252 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Valero Energy by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company’s stock worth $844,775,000 after purchasing an additional 100,248 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Valero Energy in the fourth quarter worth $669,400,000. Institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $141.16 on Friday. The firm’s 50-day moving average price is $125.11 and its 200-day moving average price is $127.56. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $167.78. The firm has a market capitalization of $44.21 billion, a P/E ratio of 49.88, a P/E/G ratio of 2.46 and a beta of 0.99. 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 (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The company had revenue of $28.76 billion for the quarter, compared to analyst estimates of $28.54 billion. During the same quarter in the prior year, the company posted $3.82 EPS. Valero Energy’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were issued a $1.13 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.20%. Valero Energy’s dividend payout ratio is presently 159.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley dropped their target price 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. Piper Sandler dropped their target price 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. Barclays boosted their target price on shares of Valero Energy from $140.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, May 12th. UBS Group dropped their target price 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, JPMorgan Chase & Co. dropped their target price on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.88.

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.