Oxbow Advisors LLC Lowers Stake in Valero Energy Co. (NYSE:VLO)

Oxbow Advisors LLC reduced its position in Valero Energy Co. (NYSE:VLO) by 11.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,130 shares of the oil and gas company’s stock after selling 275 shares during the period. Oxbow Advisors LLC’s holdings in Valero Energy were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. 9258 Wealth Management LLC lifted its holdings in Valero Energy by 7.2% in the 4th quarter. 9258 Wealth Management LLC now owns 1,704 shares of the oil and gas company’s stock worth $222,000 after purchasing an additional 114 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Valero Energy in the fourth quarter worth $818,000. AGF Management Ltd. boosted its position in shares of Valero Energy by 46.0% during the fourth quarter. AGF Management Ltd. now owns 73,491 shares of the oil and gas company’s stock worth $9,554,000 after acquiring an additional 23,142 shares during the last quarter. Qsemble Capital Management LP grew its stake in Valero Energy by 139.1% during the fourth quarter. Qsemble Capital Management LP now owns 4,304 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 2,504 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Valero Energy by 0.6% in the 4th quarter. QRG Capital Management Inc. now owns 56,564 shares of the oil and gas company’s stock valued at $7,353,000 after acquiring an additional 362 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Wells Fargo & Company raised their price target on Valero Energy from $165.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, September 3rd. Piper Sandler decreased their price objective on Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Barclays lowered their target price on Valero Energy from $171.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Valero Energy from $178.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Valero Energy Stock Performance

Shares of NYSE:VLO opened at $134.19 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $43.88 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 2.72 and a beta of 1.40. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79. The firm’s 50-day moving average is $148.79 and its 200 day moving average is $155.61.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm had revenue of $34.49 billion for the quarter, compared to the consensus estimate of $32.97 billion. During the same period in the prior year, the business posted $5.40 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Valero Energy Co. will post 12.86 EPS for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Thursday, August 1st. Valero Energy’s dividend payout ratio is currently 21.20%.

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.