Seaport Global Advisors LLC Cuts Stock Holdings in Valero Energy Co. (NYSE:VLO)

Seaport Global Advisors LLC lowered its stake in Valero Energy Co. (NYSE:VLO) by 33.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,535 shares of the oil and gas company’s stock after selling 756 shares during the period. Seaport Global Advisors LLC’s holdings in Valero Energy were worth $214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. increased its position in shares of Valero Energy by 1.2% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 6,301 shares of the oil and gas company’s stock valued at $799,000 after acquiring an additional 73 shares during the period. Grimes & Company Inc. increased its holdings in Valero Energy by 4.4% during the 1st quarter. Grimes & Company Inc. now owns 1,978 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 84 shares during the period. Covenant Asset Management LLC raised its position in Valero Energy by 0.6% during the 1st quarter. Covenant Asset Management LLC now owns 14,962 shares of the oil and gas company’s stock valued at $2,089,000 after purchasing an additional 86 shares during the last quarter. Roundview Capital LLC lifted its holdings in Valero Energy by 0.5% in the 4th quarter. Roundview Capital LLC now owns 18,888 shares of the oil and gas company’s stock worth $2,396,000 after buying an additional 87 shares during the period. Finally, Greenfield Savings Bank grew its position in shares of Valero Energy by 1.0% in the 1st quarter. Greenfield Savings Bank now owns 9,390 shares of the oil and gas company’s stock worth $1,311,000 after buying an additional 90 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Valero Energy from $172.00 to $171.00 in a research note on Friday, July 7th. Morgan Stanley reiterated an “overweight” rating and set a $160.00 price target on shares of Valero Energy in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Valero Energy in a report on Thursday, August 17th. They issued a “buy” rating for the company. Piper Sandler upped their target price on Valero Energy from $150.00 to $159.00 in a report on Friday, August 4th. Finally, Tudor Pickering upgraded Valero Energy from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $152.69.

Valero Energy Stock Down 1.1 %

Shares of VLO traded down $1.57 during trading hours on Wednesday, hitting $144.69. The company had a trading volume of 714,569 shares, compared to its average volume of 4,091,681. Valero Energy Co. has a 52-week low of $97.73 and a 52-week high of $150.39. The firm has a fifty day moving average price of $127.79 and a 200-day moving average price of $123.40. The stock has a market capitalization of $51.09 billion, a price-to-earnings ratio of 5.05, a P/E/G ratio of 0.94 and a beta of 1.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.59.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.32. Valero Energy had a net margin of 6.96% and a return on equity of 42.31%. The business had revenue of $34.51 billion during the quarter, compared to analysts’ expectations of $34.37 billion. During the same period in the previous year, the company earned $11.36 earnings per share. The business’s revenue for the quarter was down 33.2% compared to the same quarter last year. On average, equities research analysts forecast that Valero Energy Co. will post 24.16 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Thursday, August 3rd were paid a dividend of $1.02 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $4.08 annualized dividend and a yield of 2.82%. Valero Energy’s dividend payout ratio is 14.05%.

Insiders Place Their Bets

In other Valero Energy news, Director Joseph W. Gorder sold 75,580 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $135.99, for a total value of $10,278,124.20. Following the completion of the transaction, the director now owns 621,872 shares of the company’s stock, valued at approximately $84,568,373.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, and asphalt; aromatics; and sulfur crude oils.