Coastline Trust Co Reduces Holdings in Valero Energy Corporation $VLO

Coastline Trust Co decreased its position in Valero Energy Corporation (NYSE:VLO) by 7.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,619 shares of the oil and gas company’s stock after selling 700 shares during the period. Coastline Trust Co’s holdings in Valero Energy were worth $1,159,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VLO. Price T Rowe Associates Inc. MD boosted its position in shares of Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Vanguard Group Inc. boosted its position in Valero Energy by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock valued at $5,135,043,000 after buying an additional 4,155,522 shares during the period. Nuveen LLC purchased a new position in Valero Energy in the 1st quarter valued at approximately $529,864,000. GAMMA Investing LLC boosted its position in Valero Energy by 15,395.5% in the 1st quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock valued at $179,047,000 after buying an additional 1,346,950 shares during the period. Finally, Invesco Ltd. boosted its position in Valero Energy by 34.1% in the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock valued at $647,823,000 after buying an additional 1,247,196 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO opened at $175.72 on Friday. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. The firm’s fifty day simple moving average is $148.97 and its 200-day simple moving average is $135.69. The firm has a market capitalization of $54.59 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period last 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. Equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, July 31st. Valero Energy’s dividend payout ratio (DPR) is currently 188.33%.

Analysts Set New Price Targets

VLO has been the subject of several recent research reports. Evercore ISI raised their price target on shares of Valero Energy from $135.00 to $185.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Morgan Stanley raised their price target on shares of Valero Energy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Piper Sandler raised their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. TD Cowen lowered shares of Valero Energy from a “buy” rating to a “hold” rating and raised their price objective for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Wolfe Research lowered shares of Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.00.

Valero Energy Company 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.