Concorde Asset Management LLC Decreases Stake in Valero Energy Co. (NYSE:VLO)

Concorde Asset Management LLC lessened its position in shares of Valero Energy Co. (NYSE:VLO) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,746 shares of the oil and gas company’s stock after selling 219 shares during the quarter. Concorde Asset Management LLC’s holdings in Valero Energy were worth $274,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VLO. EdgeRock Capital LLC bought a new position in shares of Valero Energy during the 2nd quarter valued at approximately $27,000. Lynx Investment Advisory bought a new position in Valero Energy during the second quarter valued at $29,000. Summit Securities Group LLC purchased a new position in shares of Valero Energy in the 2nd quarter worth $31,000. Rise Advisors LLC bought a new stake in shares of Valero Energy in the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Valero Energy during the 1st quarter valued at about $33,000. Institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO stock opened at $136.76 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. The company has a market capitalization of $43.82 billion, a P/E ratio of 6.77, a P/E/G ratio of 2.72 and a beta of 1.40. The company’s 50-day simple moving average is $145.85 and its two-hundred day simple moving average is $155.24. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The business had revenue of $34.49 billion for the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.40 EPS. As a group, equities analysts anticipate that Valero Energy Co. will post 12.3 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were issued a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.13%. Valero Energy’s dividend payout ratio is currently 21.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VLO shares. Piper Sandler reduced their price objective on Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. StockNews.com lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group lowered their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research report on Monday. Scotiabank boosted their price objective on shares of Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.36.

Valero Energy Profile

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.