Maridea Wealth Management LLC Decreases Holdings in Valero Energy Corporation $VLO

Maridea Wealth Management LLC reduced its stake in Valero Energy Corporation (NYSE:VLO) by 18.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,054 shares of the oil and gas company’s stock after selling 684 shares during the period. Maridea Wealth Management LLC’s holdings in Valero Energy were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy during the 4th quarter valued at about $29,000. Wealth Enhancement Advisory Services LLC grew its position in Valero Energy by 32.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 136,413 shares of the oil and gas company’s stock valued at $16,723,000 after acquiring an additional 33,710 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Valero Energy during the fourth quarter valued at approximately $149,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Valero Energy by 1.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 38,945 shares of the oil and gas company’s stock worth $5,143,000 after purchasing an additional 383 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Valero Energy by 315.0% in the first quarter. Central Pacific Bank Trust Division now owns 2,897 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 2,199 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO opened at $174.62 on Friday. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $176.02. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The firm has a market cap of $54.25 billion, a price-to-earnings ratio of 72.76, a PEG ratio of 1.80 and a beta of 1.10. The stock has a 50 day moving average of $148.38 and a 200-day moving average of $135.25.

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, topping analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. As a group, analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 2.6%. Valero Energy’s payout ratio is 188.33%.

Analysts Set New Price Targets

VLO has been the topic of several analyst reports. Wolfe Research downgraded shares of Valero Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Evercore ISI lifted their target price on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $152.00 to $179.00 in a report on Wednesday, September 3rd. UBS Group lifted their price objective on Valero Energy from $165.00 to $183.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on Valero Energy from $151.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.00.

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.