Smartleaf Asset Management LLC Cuts Stock Position in Valero Energy Corporation $VLO

Smartleaf Asset Management LLC reduced its position in Valero Energy Corporation (NYSE:VLO) by 3.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,532 shares of the oil and gas company’s stock after selling 524 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Valero Energy were worth $2,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLO. Wayfinding Financial LLC bought a new position in shares of Valero Energy during the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 130 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of Valero Energy during the 4th quarter valued at $29,000. Hemington Wealth Management grew its holdings in shares of Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in shares of Valero Energy during the 1st quarter valued at $44,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Up 3.5%

Shares of NYSE VLO opened at $145.1990 on Friday. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $155.12. The stock has a market cap of $45.11 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.03. The firm has a 50-day moving average of $140.59 and a 200 day moving average of $130.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $27 billion. During the same period last year, the company posted $2.71 EPS. Valero Energy’s revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be issued a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.1%. Valero Energy’s payout ratio is 188.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Barclays raised their price target on shares of Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Piper Sandler raised their price target on shares of Valero Energy from $159.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Raymond James Financial raised their price target on shares of Valero Energy from $155.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their price target on shares of Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.47.

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.