Legacy Trust Reduces Stock Position in Valero Energy Corporation $VLO

Legacy Trust reduced its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 18.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,034 shares of the oil and gas company’s stock after selling 1,377 shares during the quarter. Legacy Trust’s holdings in Valero Energy were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Broadway Wealth Solutions Inc. lifted its stake in shares of Valero Energy by 3.8% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 69 shares in the last quarter. Park Place Capital Corp lifted its stake in shares of Valero Energy by 21.8% during the 2nd quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 75 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Valero Energy by 1.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock valued at $732,000 after buying an additional 78 shares in the last quarter. Summit Financial LLC lifted its stake in shares of Valero Energy by 4.6% during the 1st quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 79 shares in the last quarter. Finally, Keeley Teton Advisors LLC lifted its stake in shares of Valero Energy by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company’s stock valued at $1,025,000 after buying an additional 81 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

Valero Energy stock opened at $160.37 on Friday. The firm’s fifty day moving average price is $151.24 and its 200-day moving average price is $136.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The stock has a market cap of $49.82 billion, a P/E ratio of 66.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. On average, equities research analysts expect 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 was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. Valero Energy’s dividend payout ratio (DPR) is 188.33%.

Analyst Ratings Changes

VLO has been the topic of several recent analyst reports. Raymond James Financial increased their target price on shares of Valero Energy from $170.00 to $177.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 9th. Morgan Stanley cut shares of Valero Energy from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $160.00 to $175.00 in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Valero Energy in a research note on Saturday, September 27th. Citigroup cut shares of Valero Energy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Finally, Mizuho increased their target price on shares of Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.07.

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.