Valero Energy Co. (NYSE:VLO) Shares Sold by MAI Capital Management

MAI Capital Management decreased its stake in Valero Energy Co. (NYSE:VLO) by 46.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,286 shares of the oil and gas company’s stock after selling 7,197 shares during the period. MAI Capital Management’s holdings in Valero Energy were worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VLO. EdgeRock Capital LLC purchased a new stake in Valero Energy in the second quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new stake in Valero Energy during the 3rd quarter worth $28,000. Lynx Investment Advisory purchased a new position in Valero Energy during the 2nd quarter worth $29,000. Summit Securities Group LLC acquired a new position in Valero Energy in the second quarter valued at $31,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Valero Energy in the first quarter valued at about $33,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research reports. Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $172.00 to $165.00 in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Citigroup lowered their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Barclays cut their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $141.41 on Friday. The business’s fifty day moving average price is $136.46 and its 200 day moving average price is $146.09. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $44.77 billion, a P/E ratio of 12.68, a PEG ratio of 2.65 and a beta of 1.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company’s revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $7.49 EPS. As a group, research analysts anticipate that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.03%. Valero Energy’s payout ratio is 38.39%.

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.