Patton Fund Management Inc. reduced its stake in shares of Valero Energy Corporation (NYSE:VLO – Free Report) by 64.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,628 shares of the oil and gas company’s stock after selling 26,891 shares during the quarter. Patton Fund Management Inc.’s holdings in Valero Energy were worth $3,614,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC raised its holdings in Valero Energy by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 51 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Valero Energy by 32.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 51 shares in the last quarter. Providence Wealth Advisors LLC lifted its position in Valero Energy by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 52 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in Valero Energy by 1.4% in the fourth quarter. HBK Sorce Advisory LLC now owns 3,788 shares of the oil and gas company’s stock valued at $617,000 after acquiring an additional 53 shares in the last quarter. Finally, Prospera Financial Services Inc grew its holdings in Valero Energy by 0.3% in the fourth quarter. Prospera Financial Services Inc now owns 16,268 shares of the oil and gas company’s stock worth $2,651,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Piper Sandler increased their price objective on Valero Energy from $236.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Weiss Ratings upgraded Valero Energy from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. BMO Capital Markets boosted their price target on Valero Energy from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Zacks Research downgraded shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, TD Cowen lifted their target price on shares of Valero Energy from $255.00 to $276.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.59.
Insider Transactions at Valero Energy
In related news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $236.90, for a total transaction of $1,776,750.00. Following the completion of the transaction, the senior vice president directly owned 27,242 shares in the company, valued at $6,453,629.80. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.
Valero Energy Trading Down 0.1%
Shares of NYSE:VLO opened at $259.05 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 52-week low of $130.78 and a 52-week high of $265.61. The stock has a market cap of $76.92 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 0.37 and a beta of 0.55. The business has a 50-day moving average price of $246.28 and a 200-day moving average price of $217.67.
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The company had revenue of $32.38 billion during the quarter, compared to analyst estimates of $31.38 billion. During the same period last year, the firm posted $0.89 EPS. Valero Energy’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts predict that Valero Energy Corporation will post 27.45 EPS for the current year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, May 21st. Valero Energy’s dividend payout ratio (DPR) is 34.88%.
Valero Energy Profile
Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.
In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.
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