Valero Energy Corporation $VLO Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its stake in Valero Energy Corporation (NYSE:VLO) by 1.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,497 shares of the oil and gas company’s stock after selling 332 shares during the quarter. Welch & Forbes LLC’s holdings in Valero Energy were worth $3,158,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Kestra Private Wealth Services LLC lifted its holdings in Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company’s stock valued at $2,959,000 after acquiring an additional 3,503 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Valero Energy by 8.9% in the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company’s stock worth $6,138,000 after purchasing an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $766,000. FORA Capital LLC acquired a new stake in Valero Energy during the first quarter valued at approximately $866,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Valero Energy by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 560,495 shares of the oil and gas company’s stock valued at $74,025,000 after purchasing an additional 56,274 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Down 0.3%

NYSE:VLO opened at $169.66 on Monday. The business’s fifty day moving average price is $162.06 and its 200 day moving average price is $143.40. The firm has a market capitalization of $52.71 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.77 and a beta of 1.05. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $178.43.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The firm had revenue of $32.17 billion during the quarter, compared to analyst estimates of $28.80 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $4.52 dividend on an annualized basis and a yield of 2.7%. Valero Energy’s payout ratio is presently 94.36%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup cut Valero Energy from a “buy” rating to a “neutral” rating and upped their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Barclays lifted their target price on Valero Energy from $151.00 to $169.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $152.00 to $179.00 in a report on Wednesday, September 3rd. TD Cowen lifted their price target on Valero Energy from $162.00 to $165.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Finally, UBS Group restated a “buy” rating and set a $183.00 price objective on shares of Valero Energy in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.27.

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.