Empowered Funds LLC Sells 17,829 Shares of Valero Energy Corporation $VLO

Empowered Funds LLC lowered its position in Valero Energy Corporation (NYSE:VLO) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,429 shares of the oil and gas company’s stock after selling 17,829 shares during the period. Empowered Funds LLC owned about 0.06% of Valero Energy worth $26,404,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Valero Energy from $162.00 to $165.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Morgan Stanley lowered Valero Energy from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. UBS Group reiterated a “buy” rating and set a $183.00 price target on shares of Valero Energy in a research report on Friday, October 24th. Finally, 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 report on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Valero Energy Stock Performance

Shares of NYSE VLO opened at $178.73 on Tuesday. The company has a market cap of $54.51 billion, a PE ratio of 37.31, a PEG ratio of 1.77 and a beta of 1.01. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $167.18 and its 200-day moving average price is $148.27. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $183.93.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.15 by $0.51. The company had revenue of $32.17 billion during the quarter, compared to analyst estimates of $28.80 billion. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.Valero Energy’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, November 20th. Valero Energy’s dividend payout ratio is 94.36%.

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.