Drive Wealth Management LLC Sells 87 Shares of Valero Energy Co. (NYSE:VLO)

Drive Wealth Management LLC decreased its position in shares of Valero Energy Co. (NYSE:VLO) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,793 shares of the oil and gas company’s stock after selling 87 shares during the period. Drive Wealth Management LLC’s holdings in Valero Energy were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in VLO. EdgeRock Capital LLC bought a new stake in Valero Energy in the second quarter worth about $27,000. Lynx Investment Advisory bought a new position in Valero Energy in the 2nd quarter valued at $29,000. Pathway Financial Advisers LLC bought a new position in shares of Valero Energy in the first quarter worth about $33,000. Summit Securities Group LLC bought a new stake in Valero Energy during the 2nd quarter valued at about $31,000. Finally, Peterson Financial Group Inc. purchased a new stake in Valero Energy in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on VLO. Bank of America assumed coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. Barclays lowered their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. TD Cowen cut their price target on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. BMO Capital Markets lowered their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $172.00 to $165.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Price Performance

Shares of VLO opened at $140.16 on Monday. The company has a 50 day moving average of $135.83 and a two-hundred day moving average of $146.35. The company has a market cap of $44.37 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.39. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. During the same period in the previous year, the business earned $7.49 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, analysts predict that Valero Energy Co. will post 9.1 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is currently 38.39%.

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.