Kwmg LLC Sells 6,042 Shares of Valero Energy Corporation $VLO

Kwmg LLC reduced its stake in Valero Energy Corporation (NYSE:VLO) by 6.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 84,963 shares of the oil and gas company’s stock after selling 6,042 shares during the quarter. Valero Energy accounts for approximately 1.3% of Kwmg LLC’s portfolio, making the stock its 25th biggest position. Kwmg LLC’s holdings in Valero Energy were worth $14,466,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. raised its position in Valero Energy by 15.7% in the second quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock worth $21,770,000 after acquiring an additional 21,997 shares during the period. Hancock Whitney Corp grew its position in shares of Valero Energy by 8.9% during the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company’s stock valued at $6,138,000 after acquiring an additional 3,790 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Valero Energy by 26.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,571 shares of the oil and gas company’s stock worth $1,421,000 after purchasing an additional 2,199 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Valero Energy in the 2nd quarter worth approximately $1,666,000. Finally, FORA Capital LLC purchased a new position in Valero Energy in the first quarter valued at approximately $866,000. Institutional investors own 78.69% of the company’s stock.

Insiders Place Their Bets

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of Valero Energy stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the completion of the sale, the chief financial officer owned 134,196 shares of the company’s stock, valued at $23,352,787.92. The trade was a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Valero Energy Stock Down 0.1%

Shares of NYSE VLO opened at $162.70 on Thursday. The business has a 50-day moving average of $171.22 and a 200-day moving average of $155.24. The firm has a market capitalization of $49.63 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.15 and a beta of 0.76. 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 12 month low of $99.00 and a 12 month high of $185.62.

Valero Energy (NYSE:VLO) last released its quarterly earnings results 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. The business had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. Sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, November 20th. Valero Energy’s dividend payout ratio is currently 94.36%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on VLO shares. Morgan Stanley downgraded Valero Energy from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $160.00 to $175.00 in a research report on Friday, October 3rd. Evercore ISI boosted their price objective on Valero Energy from $135.00 to $185.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Piper Sandler boosted their target price on shares of Valero Energy from $201.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Jefferies Financial Group raised their price target on Valero Energy from $181.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Valero Energy in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $183.20.

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.