Parcion Private Wealth LLC Decreases Stock Position in Valero Energy Corporation $VLO

Parcion Private Wealth LLC reduced its position in Valero Energy Corporation (NYSE:VLO) by 16.6% in the second quarter, Holdings Channel.com reports. The fund owned 2,181 shares of the oil and gas company’s stock after selling 433 shares during the period. Parcion Private Wealth LLC’s holdings in Valero Energy were worth $293,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its stake in Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company’s stock valued at $2,959,000 after buying an additional 3,503 shares during the last quarter. Hancock Whitney Corp raised its stake in Valero Energy by 8.9% during the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company’s stock valued at $6,138,000 after buying an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Valero Energy during the 1st quarter valued at $766,000. FORA Capital LLC purchased a new stake in Valero Energy during the 1st quarter valued at $866,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Valero Energy by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 560,495 shares of the oil and gas company’s stock valued at $74,025,000 after buying an additional 56,274 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VLO shares. Mizuho boosted their target price on shares of Valero Energy from $166.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Piper Sandler boosted their price objective 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 downgraded shares of Valero Energy from a “buy” rating to a “hold” rating and boosted their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Valero Energy in a research report on Wednesday, October 8th. Finally, Citigroup downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.27.

Valero Energy Trading Up 2.7%

Shares of Valero Energy stock opened at $161.87 on Thursday. The company has a market capitalization of $50.29 billion, a P/E ratio of 67.45, a P/E/G ratio of 1.59 and a beta of 1.05. 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 company has a fifty day moving average of $157.56 and a 200 day moving average of $139.72. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43.

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

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.