SVB Wealth LLC Sells 3,442 Shares of Valero Energy Corporation $VLO

SVB Wealth LLC reduced its position in Valero Energy Corporation (NYSE:VLO) by 24.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,516 shares of the oil and gas company’s stock after selling 3,442 shares during the quarter. SVB Wealth LLC’s holdings in Valero Energy were worth $4,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of VLO. Bank of America Corp DE bought a new stake in Valero Energy during the 2nd quarter valued at $1,195,943,000. Amundi raised its stake in Valero Energy by 45.3% in the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after purchasing an additional 806,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Valero Energy by 33.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after acquiring an additional 520,642 shares during the last quarter. Corient Private Wealth LP bought a new stake in Valero Energy in the 2nd quarter worth approximately $59,917,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Valero Energy by 18.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock valued at $702,285,000 after buying an additional 442,177 shares during the period. Institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $374.96 on Friday. The stock has a 50 day moving average of $399.72 and a 200 day moving average of $293.11. Valero Energy Corporation has a 12 month low of $159.90 and a 12 month high of $461.52. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The firm has a market cap of $104.57 billion, a PE ratio of 8.43, a PEG ratio of 0.19 and a beta of 0.58.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, topping the consensus estimate of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The company had revenue of $46.10 billion for the quarter, compared to analysts’ expectations of $42.71 billion. During the same quarter in the previous year, the business posted $3.66 earnings per share. Valero Energy’s quarterly revenue was up 43.3% on a year-over-year basis. On average, research analysts expect that Valero Energy Corporation will post 58.33 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 24th. Valero Energy’s dividend payout ratio is 10.80%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLO shares. Mizuho raised their target price on Valero Energy from $434.00 to $436.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Evercore reduced their price objective on shares of Valero Energy from $385.00 to $325.00 in a research note on Wednesday, October 28th. JPMorgan Chase & Co. upped their target price on shares of Valero Energy from $339.00 to $439.00 and gave the company an “overweight” rating in a research note on Thursday, October 8th. Piper Sandler increased their price target on Valero Energy from $329.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Finally, Bank of America raised their price objective on shares of Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $406.32.

Valero Energy Company Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.