Community Financial Services Group LLC Sells 2,590 Shares of Valero Energy Corporation $VLO

Community Financial Services Group LLC reduced its stake in Valero Energy Corporation (NYSE:VLO) by 17.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,100 shares of the oil and gas company’s stock after selling 2,590 shares during the quarter. Community Financial Services Group LLC’s holdings in Valero Energy were worth $1,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in Valero Energy in the 2nd quarter worth $26,000. Wayfinding Financial LLC bought a new position in Valero Energy in the first quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its position in Valero Energy by 156.6% in the first 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 in the last quarter. Ransom Advisory Ltd bought a new position in Valero Energy in the first quarter valued at $43,000. Finally, Iron Horse Wealth Management LLC bought a new position in Valero Energy in the first quarter valued at $44,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VLO has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Valero Energy from $151.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. TD Cowen downgraded shares of Valero Energy from a “buy” rating to a “hold” rating and lifted their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Raymond James Financial lifted their price objective on shares of Valero Energy from $170.00 to $177.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 9th. Mizuho lifted their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Finally, Bank of America raised shares of Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Valero Energy Stock Performance

Shares of VLO stock opened at $167.63 on Thursday. The company has a market capitalization of $52.07 billion, a price-to-earnings ratio of 69.84, a PEG ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a 50-day simple moving average of $150.40 and a 200 day simple moving average of $136.51. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $178.43.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. Valero Energy’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, sell-side analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. Valero Energy’s payout ratio is presently 188.33%.

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.