Commerzbank Aktiengesellschaft FI Reduces Stake in Valero Energy Corporation (NYSE:VLO)

Commerzbank Aktiengesellschaft FI reduced its position in Valero Energy Corporation (NYSE:VLO) by 18.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,992 shares of the oil and gas company’s stock after selling 1,606 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Valero Energy were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sendero Wealth Management LLC boosted its stake in shares of Valero Energy by 11.0% in the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 2,000 shares during the last quarter. Applied Finance Capital Management LLC lifted its position in Valero Energy by 3.0% during the fourth quarter. Applied Finance Capital Management LLC now owns 178,293 shares of the oil and gas company’s stock valued at $21,857,000 after purchasing an additional 5,203 shares in the last quarter. AlTi Global Inc. lifted its position in Valero Energy by 18.2% during the fourth quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company’s stock valued at $8,585,000 after purchasing an additional 9,963 shares in the last quarter. Trexquant Investment LP lifted its position in Valero Energy by 1,930.4% during the fourth quarter. Trexquant Investment LP now owns 113,603 shares of the oil and gas company’s stock valued at $13,927,000 after purchasing an additional 108,008 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its position in Valero Energy by 130.0% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company’s stock valued at $967,000 after purchasing an additional 4,456 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Up 1.2%

VLO opened at $144.87 on Friday. The stock has a market cap of $45.37 billion, a price-to-earnings ratio of 51.19, a P/E/G ratio of 2.46 and a beta of 1.00. The stock’s 50 day moving average price is $136.19 and its 200-day moving average price is $129.92. Valero Energy Corporation has a one year low of $99.00 and a one year high of $167.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.56.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). The firm had revenue of $28.76 billion during the quarter, compared to analysts’ expectations of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.82 EPS. On average, equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.12%. Valero Energy’s payout ratio is 159.72%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their target price on Valero Energy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Wolfe Research cut Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday. Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They issued an “in-line” rating and a $135.00 target price on the stock. Finally, Piper Sandler lifted their target price on Valero Energy from $142.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $153.94.

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.