Valero Energy Co. (NYSE:VLO) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its holdings in Valero Energy Co. (NYSE:VLO) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,660 shares of the oil and gas company’s stock after selling 459 shares during the quarter. Independence Bank of Kentucky’s holdings in Valero Energy were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in VLO. Ameriflex Group Inc. purchased a new stake in Valero Energy in the 4th quarter valued at about $29,000. Tobam acquired a new stake in shares of Valero Energy in the fourth quarter worth approximately $30,000. OFI Invest Asset Management purchased a new stake in Valero Energy in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC acquired a new position in Valero Energy during the fourth quarter worth approximately $38,000. Finally, Creative Capital Management Investments LLC raised its stake in Valero Energy by 122.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 183 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on VLO. Raymond James lowered their price objective on shares of Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Mizuho boosted their price target on Valero Energy from $158.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Scotiabank dropped their price target on Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Morgan Stanley reduced their price objective on Valero Energy from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Barclays boosted their target price on Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $151.93.

Valero Energy Price Performance

VLO stock opened at $128.35 on Friday. The firm has a market cap of $40.20 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 1 year low of $99.00 and a 1 year high of $167.78. The stock has a 50-day simple moving average of $120.32 and a 200-day simple moving average of $127.75.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). The firm had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.82 EPS. On average, equities analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, May 20th. Valero Energy’s dividend payout ratio (DPR) is 159.72%.

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.