Baird Financial Group Inc. Lowers Stock Position in Valero Energy Corporation $VLO

Baird Financial Group Inc. lessened its position in shares of Valero Energy Corporation (NYSE:VLO) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,155 shares of the oil and gas company’s stock after selling 20,776 shares during the quarter. Baird Financial Group Inc.’s holdings in Valero Energy were worth $18,168,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hoey Investments Inc. acquired a new stake in shares of Valero Energy during the 2nd quarter valued at about $26,000. GFG Capital LLC acquired a new position in Valero Energy in the 2nd quarter worth about $27,000. Hantz Financial Services Inc. boosted its position in Valero Energy by 1,277.8% during the second quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 230 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Valero Energy in the first quarter valued at approximately $43,000. Finally, Kiker Wealth Management LLC grew its holdings in Valero Energy by 466.1% in the second quarter. Kiker Wealth Management LLC now owns 334 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jason W. Fraser sold 9,933 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the transaction, the chief financial officer directly owned 134,196 shares in the company, valued at $23,352,787.92. The trade was a 6.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by company insiders.

Valero Energy Trading Down 0.2%

Shares of VLO stock opened at $174.68 on Friday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $185.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. The stock’s fifty day moving average is $170.53 and its two-hundred day moving average is $152.94. The firm has a market capitalization of $53.28 billion, a P/E ratio of 36.47, a PEG ratio of 0.88 and a beta of 0.76.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. The business had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. Research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 20th will be issued a $1.13 dividend. The ex-dividend date is Thursday, November 20th. This represents a $4.52 dividend on an annualized basis and a yield of 2.6%. Valero Energy’s dividend payout ratio is presently 94.36%.

Wall Street Analysts Forecast Growth

VLO has been the subject of several research analyst reports. Erste Group Bank assumed coverage on Valero Energy in a research note on Monday, November 10th. They set a “buy” rating for the company. Morgan Stanley lowered shares of Valero Energy from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $160.00 to $175.00 in a report on Friday, October 3rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $195.00 price objective (up from $181.00) on shares of Valero Energy in a report on Friday, October 24th. Bank of America upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Finally, Wall Street Zen cut shares of Valero Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.00.

About Valero Energy

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.