Chesapeake Wealth Management Reduces Stock Position in Valero Energy Co. (NYSE:VLO)

Chesapeake Wealth Management cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,455 shares of the oil and gas company’s stock after selling 263 shares during the period. Chesapeake Wealth Management’s holdings in Valero Energy were worth $855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Valero Energy by 1.9% in the second quarter. Pacer Advisors Inc. now owns 3,018,107 shares of the oil and gas company’s stock valued at $473,118,000 after acquiring an additional 56,989 shares during the period. AE Wealth Management LLC increased its position in shares of Valero Energy by 14.0% during the 2nd quarter. AE Wealth Management LLC now owns 100,940 shares of the oil and gas company’s stock valued at $15,823,000 after purchasing an additional 12,410 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Valero Energy by 10.2% in the 2nd quarter. Ieq Capital LLC now owns 11,229 shares of the oil and gas company’s stock worth $1,760,000 after purchasing an additional 1,040 shares during the period. Brighton Jones LLC boosted its holdings in shares of Valero Energy by 8.2% in the second quarter. Brighton Jones LLC now owns 2,440 shares of the oil and gas company’s stock worth $383,000 after buying an additional 184 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Valero Energy by 52.8% during the second quarter. Intech Investment Management LLC now owns 100,327 shares of the oil and gas company’s stock valued at $15,727,000 after buying an additional 34,658 shares during the period. 78.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VLO has been the topic of several analyst reports. Barclays dropped their price target on shares of Valero Energy from $171.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group lowered their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Scotiabank upped their price target on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Mizuho lowered their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced 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 analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.07.

Valero Energy Trading Down 3.1 %

Valero Energy stock opened at $134.39 on Friday. Valero Energy Co. has a 1 year low of $119.88 and a 1 year high of $184.79. The firm’s 50 day moving average price is $145.42 and its 200-day moving average price is $155.06. 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 stock has a market cap of $43.94 billion, a P/E ratio of 6.66, a PEG ratio of 2.72 and a beta of 1.40.

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

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, August 1st. Valero Energy’s dividend payout ratio is presently 21.20%.

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.