Valero Energy Corporation $VLO Stake Cut by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,443 shares of the oil and gas company’s stock after selling 27,117 shares during the quarter. Corient Private Wealth LLC owned approximately 0.07% of Valero Energy worth $30,170,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Valero Energy by 2.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company’s stock valued at $1,576,035,000 after purchasing an additional 286,942 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock valued at $1,425,754,000 after acquiring an additional 7,931,018 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Valero Energy by 16.7% in the second quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company’s stock worth $1,089,897,000 after acquiring an additional 1,164,217 shares during the last quarter. Norges Bank acquired a new position in shares of Valero Energy in the second quarter worth $827,390,000. Finally, Franklin Resources Inc. raised its holdings in shares of Valero Energy by 3.0% during the second quarter. Franklin Resources Inc. now owns 5,024,322 shares of the oil and gas company’s stock worth $675,369,000 after acquiring an additional 148,195 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Trading Down 3.1%

Shares of Valero Energy stock opened at $162.67 on Wednesday. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $185.62. The company’s fifty day simple moving average is $171.21 and its 200-day simple moving average is $155.19. The company has a market cap of $49.62 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.19 and a beta of 0.76. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The firm had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $28.80 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect 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 Thursday, December 18th. Investors of record on Thursday, November 20th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, November 20th. Valero Energy’s payout ratio is currently 94.36%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James Financial reissued a “strong-buy” rating and issued a $195.00 price target (up previously from $181.00) on shares of Valero Energy in a research note on Friday, October 24th. Barclays boosted their target price on shares of Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley downgraded shares of Valero Energy from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $160.00 to $175.00 in a report on Friday, October 3rd. UBS Group reiterated a “buy” rating and issued a $183.00 price objective on shares of Valero Energy in a report on Friday, October 24th. Finally, Piper Sandler raised their target price on Valero Energy from $201.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.20.

Insider Buying and Selling

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of the firm’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 value of $1,728,540.66. Following the completion of the sale, the chief financial officer owned 134,196 shares in the company, valued at approximately $23,352,787.92. This trade represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

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.