Modera Wealth Management LLC Sells 79 Shares of Valero Energy Co. (NYSE:VLO)

Modera Wealth Management LLC reduced its holdings in Valero Energy Co. (NYSE:VLO) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,736 shares of the oil and gas company’s stock after selling 79 shares during the quarter. Modera Wealth Management LLC’s holdings in Valero Energy were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VLO. Silverlake Wealth Management LLC bought a new position in shares of Valero Energy during the 1st quarter valued at about $201,000. Azzad Asset Management Inc. ADV bought a new position in shares of Valero Energy during the 1st quarter valued at about $1,313,000. Norden Group LLC bought a new position in shares of Valero Energy during the 1st quarter valued at about $7,683,000. Westside Investment Management Inc. increased its position in shares of Valero Energy by 30.3% during the 1st quarter. Westside Investment Management Inc. now owns 572 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 133 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Valero Energy by 5.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 13,223 shares of the oil and gas company’s stock valued at $2,257,000 after purchasing an additional 647 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VLO has been the subject of several analyst reports. Piper Sandler cut Valero Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. Scotiabank dropped their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. StockNews.com cut Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays dropped their target price on Valero Energy from $165.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Wolfe Research initiated coverage on Valero Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $177.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus target price of $154.53.

Valero Energy Stock Down 3.3 %

VLO stock opened at $127.88 on Wednesday. Valero Energy Co. has a twelve month low of $119.88 and a twelve month high of $184.79. 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 firm has a market cap of $40.97 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 3.45 and a beta of 1.39. The business has a 50 day moving average of $137.62 and a 200 day moving average of $149.13.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.01% and a net margin of 2.74%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.49 EPS. On average, research analysts forecast that Valero Energy Co. will post 9.6 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.35%. 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.