Morse Asset Management Inc Sells 2,067 Shares of Valero Energy Co. (NYSE:VLO)

Morse Asset Management Inc cut its position in Valero Energy Co. (NYSE:VLO) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,048 shares of the oil and gas company’s stock after selling 2,067 shares during the quarter. Morse Asset Management Inc’s holdings in Valero Energy were worth $1,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Collective Family Office LLC raised its holdings in shares of Valero Energy by 1.5% in the 1st quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock valued at $690,000 after purchasing an additional 58 shares during the period. Versant Capital Management Inc boosted its stake in shares of Valero Energy by 4.7% during the 1st quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 59 shares during the period. International Private Wealth Advisors LLC increased its holdings in shares of Valero Energy by 3.4% during the 2nd quarter. International Private Wealth Advisors LLC now owns 1,970 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 65 shares during the last quarter. Aua Capital Management LLC raised its stake in Valero Energy by 3.1% in the 1st quarter. Aua Capital Management LLC now owns 2,261 shares of the oil and gas company’s stock valued at $386,000 after acquiring an additional 67 shares during the period. Finally, OmniStar Financial Group Inc. lifted its holdings in Valero Energy by 1.6% during the 2nd quarter. OmniStar Financial Group Inc. now owns 4,543 shares of the oil and gas company’s stock valued at $712,000 after purchasing an additional 70 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Down 3.0 %

VLO stock opened at $134.46 on Monday. Valero Energy Co. has a 52 week low of $119.88 and a 52 week high of $184.79. The business has a 50-day simple moving average of $145.42 and a 200 day simple moving average of $155.21. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The company has a market cap of $43.97 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. The company had revenue of $34.49 billion during 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 revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $5.40 EPS. Sell-side analysts anticipate that Valero Energy Co. will post 12.3 EPS for the current fiscal 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 paid a $1.07 dividend. The ex-dividend date was Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.18%. Valero Energy’s payout ratio is 21.20%.

Analysts Set New Price Targets

Several research firms have commented on VLO. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on shares of Valero Energy from $165.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 3rd. Scotiabank upped their target price on Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Mizuho decreased their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.07.

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.