Intact Investment Management Inc. Cuts Stock Holdings in Valero Energy Corporation (NYSE:VLO)

Intact Investment Management Inc. trimmed its stake in shares of Valero Energy Corporation (NYSE:VLO) by 10.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,400 shares of the oil and gas company’s stock after selling 3,200 shares during the period. Intact Investment Management Inc.’s holdings in Valero Energy were worth $3,487,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VLO. Atria Wealth Solutions Inc. grew its stake in Valero Energy by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 25,034 shares of the oil and gas company’s stock valued at $3,069,000 after acquiring an additional 749 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Valero Energy by 12.8% in the 4th quarter. Global Retirement Partners LLC now owns 5,697 shares of the oil and gas company’s stock worth $698,000 after buying an additional 645 shares in the last quarter. Ieq Capital LLC grew its stake in shares of Valero Energy by 76.2% in the 4th quarter. Ieq Capital LLC now owns 27,988 shares of the oil and gas company’s stock worth $3,431,000 after buying an additional 12,106 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Valero Energy by 6.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,514 shares of the oil and gas company’s stock worth $186,000 after buying an additional 94 shares in the last quarter. Finally, Navellier & Associates Inc. grew its stake in shares of Valero Energy by 4.3% in the 4th quarter. Navellier & Associates Inc. now owns 19,859 shares of the oil and gas company’s stock worth $2,435,000 after buying an additional 825 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen dropped their price objective on shares of Valero Energy from $121.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Barclays lifted their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Piper Sandler dropped their price objective on shares of Valero Energy from $144.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Finally, Evercore ISI started coverage on shares of Valero Energy in a research note on Wednesday. They issued an “in-line” rating and a $135.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $150.88.

Valero Energy Trading Up 1.2%

Shares of VLO opened at $141.16 on Friday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $167.78. The company has a 50-day moving average of $125.11 and a 200 day moving average of $127.56. The firm has a market capitalization of $44.21 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 2.46 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.09.

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 analysts’ consensus estimates 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 the consensus estimate of $28.54 billion. During the same quarter in the previous year, the business earned $3.82 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

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

Valero Energy Company 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.