SVB Wealth LLC Cuts Stock Holdings in Valero Energy Corporation $VLO

SVB Wealth LLC lowered its position in Valero Energy Corporation (NYSE:VLO) by 21.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,552 shares of the oil and gas company’s stock after selling 4,361 shares during the period. SVB Wealth LLC’s holdings in Valero Energy were worth $3,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new position in Valero Energy during the 3rd quarter worth approximately $27,000. Torren Management LLC acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $30,000. AXS Investments LLC acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $32,000. Triumph Capital Management purchased a new stake in shares of Valero Energy in the third quarter valued at approximately $35,000. Finally, University of Texas Texas AM Investment Management Co. boosted its stake in shares of Valero Energy by 157.0% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

VLO opened at $243.30 on Tuesday. Valero Energy Corporation has a 1-year low of $130.78 and a 1-year high of $265.61. The stock has a market cap of $72.24 billion, a P/E ratio of 17.68, a P/E/G ratio of 0.34 and a beta of 0.55. The stock’s 50 day simple moving average is $245.27 and its 200 day simple moving average is $215.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $1.06. The firm had revenue of $32.38 billion during the quarter, compared to analysts’ expectations of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.Valero Energy’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, equities analysts anticipate that Valero Energy Corporation will post 27.45 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, May 21st. Valero Energy’s payout ratio is 34.88%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VLO shares. TD Cowen increased their price objective on Valero Energy from $255.00 to $276.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Scotiabank boosted their target price on shares of Valero Energy from $178.00 to $226.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. UBS Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Valero Energy in a research note on Thursday, June 11th. Wolfe Research reiterated an “underperform” rating and issued a $203.00 price target on shares of Valero Energy in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Valero Energy from $203.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Valero Energy has an average rating of “Moderate Buy” and an average target price of $245.59.

Insider Activity

In related news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $236.90, for a total value of $1,776,750.00. Following the sale, the senior vice president directly owned 27,242 shares in the company, valued at $6,453,629.80. The trade was a 21.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by company insiders.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.