Oppenheimer Asset Management Inc. Reduces Position in Valero Energy Corporation (NYSE:VLO)

Oppenheimer Asset Management Inc. lessened its holdings in Valero Energy Corporation (NYSE:VLO) by 62.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,557 shares of the oil and gas company’s stock after selling 15,698 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Valero Energy were worth $1,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy during the fourth quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in Valero Energy in the 4th quarter valued at approximately $37,000. Millstone Evans Group LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Valero Energy during the fourth quarter worth about $52,000. Finally, Transce3nd LLC purchased a new position in Valero Energy in the 4th quarter valued at approximately $58,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James Financial decreased their price objective on shares of Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on Valero Energy from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their price objective on Valero Energy from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Piper Sandler decreased their target price on Valero Energy from $144.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Finally, Scotiabank dropped their price target on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $150.88.

Valero Energy Trading Down 1.6%

NYSE VLO opened at $134.76 on Friday. Valero Energy Corporation has a one year low of $99.00 and a one year high of $167.78. The firm has a market cap of $42.21 billion, a PE ratio of 47.62, a P/E/G ratio of 2.39 and a beta of 0.99. The firm’s fifty day moving average is $127.81 and its two-hundred day moving average is $127.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.56.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The company had revenue of $28.76 billion for the quarter, compared to analysts’ expectations of $28.54 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were given a $1.13 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a yield of 3.35%. Valero Energy’s dividend payout ratio (DPR) is 159.72%.

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.