Kingsview Wealth Management LLC Sells 415 Shares of Valero Energy Co. (NYSE:VLO)

Kingsview Wealth Management LLC trimmed its holdings in Valero Energy Co. (NYSE:VLO) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,325 shares of the oil and gas company’s stock after selling 415 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Valero Energy were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

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

Valero Energy Price Performance

VLO opened at $139.83 on Tuesday. 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 company’s 50 day simple moving average is $136.71 and its 200-day simple moving average is $145.68. Valero Energy Co. has a one year low of $120.21 and a one year high of $184.79. The stock has a market capitalization of $44.27 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.63 and a beta of 1.39.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion for the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.49 earnings per share. Sell-side analysts anticipate that Valero Energy Co. will post 8.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.06%. Valero Energy’s dividend payout ratio is currently 38.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VLO shares. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $169.00 to $123.00 in a research note on Friday, September 20th. BMO Capital Markets dropped 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. TD Cowen decreased their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Scotiabank dropped their price target on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy 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.