Valero Energy Corporation $VLO Stock: SVB Wealth LLC Decreases Stake

SVB Wealth LLC reduced its stake in shares of Valero Energy Corporation (NYSE:VLO) by 24.7% in the third quarter, HoldingsChannel reports. The firm owned 10,516 shares of the oil and gas company’s stock after selling 3,442 shares during the period. SVB Wealth LLC’s holdings in Valero Energy were worth $4,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VLO. Cornerstone Financial Management LLC boosted its position in Valero Energy by 57.6% in the second quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in shares of Valero Energy during the third quarter valued at approximately $32,000. Latitude Advisors LLC purchased a new position in shares of Valero Energy in the third quarter worth about $34,000. Mascoma Wealth Management LLC boosted its holdings in shares of Valero Energy by 1,980.0% during the 3rd quarter. Mascoma Wealth Management LLC now owns 104 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 99 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its holdings in Valero Energy by 80.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 168 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings raised Valero Energy from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 29th. Dbs Bank lowered Valero Energy to a “hold” rating and set a $436.00 price target on the stock. in a research report on Monday, October 19th. Citigroup upped their price target on Valero Energy from $485.00 to $490.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. BMO Capital Markets upped their price target on shares of Valero Energy from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Finally, The Goldman Sachs Group lifted their price objective on Valero Energy from $457.00 to $496.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target of $406.32.

Valero Energy Stock Up 3.1%

Shares of Valero Energy stock opened at $374.96 on Friday. The company has a market capitalization of $104.57 billion, a PE ratio of 8.43, a P/E/G ratio of 0.19 and a beta of 0.58. The business has a 50-day moving average of $399.72 and a 200-day moving average of $293.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. Valero Energy Corporation has a 1-year low of $159.90 and a 1-year high of $461.52.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The firm had revenue of $46.10 billion for the quarter, compared to the consensus estimate of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm’s revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.66 EPS. As a group, equities analysts forecast that Valero Energy Corporation will post 58.33 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. Valero Energy’s payout ratio is 10.80%.

Valero Energy Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.