SVB Wealth LLC Has $5.42 Million Stock Position in Valero Energy Corporation $VLO

SVB Wealth LLC decreased its stake in shares of Valero Energy Corporation (NYSE:VLO) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,031 shares of the oil and gas company’s stock after selling 11,973 shares during the period. SVB Wealth LLC’s holdings in Valero Energy were worth $5,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in Valero Energy during the 1st quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its holdings in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Valero Energy during the 4th quarter worth about $29,000. Hemington Wealth Management raised its holdings in Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in Valero Energy during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

NYSE VLO opened at $145.1990 on Friday. The business has a 50 day simple moving average of $140.59 and a 200 day simple moving average of $130.93. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $155.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The stock has a market cap of $45.11 billion, a price-to-earnings ratio of 60.50, a PEG ratio of 3.28 and a beta of 1.03.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $27 billion. During the same period in the prior year, the business earned $2.71 EPS. Valero Energy’s revenue for the quarter was down 13.3% compared to the same quarter last year. Analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy’s dividend payout ratio is presently 188.33%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VLO. Wells Fargo & Company boosted their price objective on Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Citigroup cut Valero Energy from a “buy” rating to a “neutral” rating and upped their price target for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. Evercore ISI started coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an “in-line” rating and a $135.00 price target for the company. Wolfe Research cut Valero Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus target price of $154.47.

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.