Valero Energy Corporation (NYSE:VLO) Shares Sold by Concord Wealth Partners

Concord Wealth Partners trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLOFree Report) by 90.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 391 shares of the oil and gas company’s stock after selling 3,713 shares during the period. Concord Wealth Partners’ holdings in Valero Energy were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in Valero Energy in the first quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in Valero Energy in the fourth quarter worth about $29,000. Iron Horse Wealth Management LLC bought a new stake in shares of Valero Energy during the first quarter valued at approximately $44,000. Millstone Evans Group LLC acquired a new position in Valero Energy in the fourth quarter valued at approximately $44,000. Finally, North Capital Inc. acquired a new stake in shares of Valero Energy during the first quarter worth $58,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Valero Energy stock opened at $144.87 on Friday. The company has a market cap of $45.37 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 2.46 and a beta of 1.00. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $167.78. The business’s 50 day simple moving average is $136.19 and its 200 day simple moving average is $129.92.

Valero Energy (NYSE:VLOGet Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.82 EPS. Sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.12%. Valero Energy’s dividend payout ratio is presently 159.72%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VLO. JPMorgan Chase & Co. decreased their target price on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. TD Cowen cut their target price on shares of Valero Energy from $121.00 to $118.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Scotiabank decreased their price objective on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Evercore ISI initiated coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an “in-line” rating and a $135.00 price objective for the company. Finally, Citigroup downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating and raised their target price for the company from $134.00 to $150.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.94.

Check Out Our Latest Stock Report on Valero Energy

About Valero Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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