Burke & Herbert Bank & Trust Co. cut its stake in Valero Energy Co. (NYSE:VLO – Free Report) by 15.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,957 shares of the oil and gas company’s stock after selling 740 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Valero Energy were worth $464,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in VLO. Blair William & Co. IL raised its position in shares of Valero Energy by 1.9% during the first quarter. Blair William & Co. IL now owns 33,427 shares of the oil and gas company’s stock worth $3,394,000 after purchasing an additional 632 shares during the period. Sei Investments Co. raised its position in shares of Valero Energy by 21.7% during the first quarter. Sei Investments Co. now owns 100,006 shares of the oil and gas company’s stock worth $10,163,000 after purchasing an additional 17,844 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Valero Energy by 12.5% during the first quarter. Canada Pension Plan Investment Board now owns 60,730 shares of the oil and gas company’s stock worth $6,167,000 after purchasing an additional 6,735 shares during the period. Prudential PLC acquired a new position in shares of Valero Energy during the first quarter worth approximately $1,253,000. Finally, Moors & Cabot Inc. raised its position in shares of Valero Energy by 21.0% during the first quarter. Moors & Cabot Inc. now owns 6,780 shares of the oil and gas company’s stock worth $688,000 after purchasing an additional 1,179 shares during the period. 77.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
VLO has been the topic of a number of research reports. Piper Sandler upped their target price on Valero Energy from $150.00 to $159.00 in a research report on Friday, August 4th. Mizuho upped their price objective on Valero Energy from $162.00 to $174.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective 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 note on Wednesday, July 19th. Finally, Tudor, Pickering, Holt & Co. upgraded Valero Energy from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.00.
In other news, Director Joseph W. Gorder sold 75,580 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $135.99, for a total transaction of $10,278,124.20. Following the transaction, the director now directly owns 621,872 shares of the company’s stock, valued at $84,568,373.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.
Valero Energy Trading Up 1.2 %
Valero Energy stock traded up $1.75 during trading hours on Monday, reaching $145.43. The company had a trading volume of 2,062,781 shares, compared to its average volume of 4,115,971. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.59 and a quick ratio of 1.12. The company has a 50-day moving average price of $129.60 and a 200 day moving average price of $123.61. The firm has a market cap of $51.36 billion, a price-to-earnings ratio of 5.08, a P/E/G ratio of 1.00 and a beta of 1.66. Valero Energy Co. has a 12-month low of $97.73 and a 12-month high of $150.39.
Valero Energy (NYSE:VLO – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.08 by $0.32. The business had revenue of $34.51 billion for the quarter, compared to analysts’ expectations of $34.37 billion. Valero Energy had a return on equity of 42.31% and a net margin of 6.96%. The business’s quarterly revenue was down 33.2% on a year-over-year basis. During the same period in the previous year, the firm earned $11.36 EPS. Equities analysts forecast that Valero Energy Co. will post 24.41 earnings per share for the current year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders 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 dividend yield of 2.81%. Valero Energy’s dividend payout ratio (DPR) is presently 14.05%.
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.
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