Stock Yards Bank & Trust Co. Lowers Position in Valero Energy Co. (NYSE:VLO)

Stock Yards Bank & Trust Co. lessened its stake in Valero Energy Co. (NYSE:VLO) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,994 shares of the oil and gas company’s stock after selling 238 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Valero Energy were worth $404,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in VLO. Wellington Management Group LLP boosted its holdings in Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after acquiring an additional 2,793,607 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Valero Energy by 11,318.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,076,349 shares of the oil and gas company’s stock valued at $145,339,000 after purchasing an additional 1,066,923 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Valero Energy by 900.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock valued at $85,217,000 after purchasing an additional 568,000 shares in the last quarter. Pacer Advisors Inc. increased its position in Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after purchasing an additional 567,059 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Valero Energy during the 3rd quarter worth approximately $70,352,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Trading Down 0.4 %

VLO opened at $129.14 on Friday. Valero Energy Co. has a 12-month low of $124.02 and a 12-month high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market capitalization of $40.88 billion, a PE ratio of 11.58, a P/E/G ratio of 2.44 and a beta of 1.39. The firm’s fifty day moving average price is $136.27 and its 200 day moving average price is $143.42.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.49 EPS. As a group, research analysts expect that Valero Energy Co. will post 8.87 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.31%. Valero Energy’s payout ratio is 38.39%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Citigroup decreased their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reduced their price objective 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. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. Finally, Barclays decreased their price target on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.50.

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.