SeaCrest Wealth Management LLC Lowers Holdings in Valero Energy Co. (NYSE:VLO)

SeaCrest Wealth Management LLC lowered its holdings in shares of Valero Energy Co. (NYSE:VLO) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,365 shares of the oil and gas company’s stock after selling 638 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Valero Energy were worth $1,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new position in shares of Valero Energy in the second quarter worth $27,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the 2nd quarter worth $29,000. Summit Securities Group LLC bought a new position in shares of Valero Energy during the 2nd quarter valued at about $31,000. Rise Advisors LLC bought a new stake in shares of Valero Energy in the first quarter worth about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Valero Energy in the first quarter worth about $33,000. Institutional investors own 78.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank decreased their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. Finally, Wolfe Research initiated coverage on shares of Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $162.60.

Valero Energy Stock Performance

Shares of Valero Energy stock traded up $1.47 during trading on Wednesday, hitting $136.12. 93,810 shares of the company’s stock were exchanged, compared to its average volume of 2,993,021. Valero Energy Co. has a 52-week low of $119.88 and a 52-week high of $184.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market capitalization of $43.61 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 3.75 and a beta of 1.39. The business has a 50-day simple moving average of $140.60 and a 200-day simple moving average of $152.23.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The firm had revenue of $34.49 billion during the quarter, compared to analysts’ expectations of $32.97 billion. During the same period in the previous year, the business posted $5.40 EPS. The business’s revenue was down .1% compared to the same quarter last year. On average, research analysts forecast that Valero Energy Co. will post 9.41 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, August 1st. Valero Energy’s payout ratio is 24.46%.

Valero Energy Company Profile

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.