Westchester Capital Management Inc. Trims Stake in Valero Energy Corporation (NYSE:VLO)

Westchester Capital Management Inc. lowered its stake in Valero Energy Corporation (NYSE:VLO) by 0.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,149 shares of the oil and gas company’s stock after selling 119 shares during the quarter. Valero Energy makes up about 2.8% of Westchester Capital Management Inc.’s holdings, making the stock its 16th biggest position. Westchester Capital Management Inc.’s holdings in Valero Energy were worth $11,378,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VLO. Alliancebernstein L.P. lifted its stake in Valero Energy by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 483,740 shares of the oil and gas company’s stock valued at $59,302,000 after buying an additional 3,456 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in shares of Valero Energy by 57.8% during the 4th quarter. OneAscent Financial Services LLC now owns 2,997 shares of the oil and gas company’s stock worth $367,000 after purchasing an additional 1,098 shares during the period. World Investment Advisors lifted its stake in shares of Valero Energy by 1.8% during the 4th quarter. World Investment Advisors now owns 4,323 shares of the oil and gas company’s stock worth $530,000 after purchasing an additional 78 shares during the period. Pitcairn Co. lifted its stake in shares of Valero Energy by 1.4% during the 4th quarter. Pitcairn Co. now owns 9,454 shares of the oil and gas company’s stock worth $1,159,000 after purchasing an additional 126 shares during the period. Finally, Unison Advisors LLC lifted its stake in shares of Valero Energy by 0.8% during the 4th quarter. Unison Advisors LLC now owns 15,235 shares of the oil and gas company’s stock worth $1,868,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Trading Down 3.0%

NYSE:VLO opened at $133.17 on Friday. The business’s 50-day moving average is $138.61 and its two-hundred day moving average is $131.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12. The firm has a market capitalization of $41.71 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period last year, the company posted $2.71 earnings per share. The firm’s revenue was down 13.3% compared to the same quarter last year. Research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.4%. Valero Energy’s dividend payout ratio (DPR) is 188.33%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays increased their price target on Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Mizuho increased their price target on Valero Energy from $158.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. Citigroup lowered Valero Energy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Scotiabank reduced their price target on Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Finally, Evercore ISI began coverage on Valero Energy in a research note on Wednesday, June 18th. They set an “in-line” rating and a $135.00 price target on the stock. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.47.

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.