Valero Energy Co. (NYSE:VLO) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC cut its position in shares of Valero Energy Co. (NYSE:VLO) by 24.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,735 shares of the oil and gas company’s stock after selling 3,100 shares during the period. MGB Wealth Management LLC’s holdings in Valero Energy were worth $1,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Valero Energy by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock worth $1,389,090,000 after purchasing an additional 50,837 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Valero Energy by 2.8% during the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock worth $1,090,532,000 after purchasing an additional 192,397 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Valero Energy by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after purchasing an additional 237,347 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Valero Energy by 18.8% during the third 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 during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Valero Energy by 3.0% in the second quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock worth $440,394,000 after acquiring an additional 82,539 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. TD Cowen cut their price target on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 25th. Piper Sandler cut Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Mizuho cut their price target on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Scotiabank cut their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Stock Performance

Valero Energy stock opened at $140.91 on Friday. The firm has a market capitalization of $44.61 billion, a P/E ratio of 12.64, a PEG ratio of 2.63 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $136.59 and a 200 day moving average price of $145.89. Valero Energy Co. has a 52 week low of $120.21 and a 52 week high of $184.79.

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, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter in the previous year, the business earned $7.49 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities research analysts anticipate that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio is presently 38.39%.

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.