Chesapeake Wealth Management Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Chesapeake Wealth Management reduced its position in shares of Valero Energy Co. (NYSE:VLO) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,455 shares of the oil and gas company’s stock after selling 263 shares during the period. Chesapeake Wealth Management’s holdings in Valero Energy were worth $855,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Collective Family Office LLC lifted its holdings in Valero Energy by 1.5% in the 1st quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock worth $690,000 after buying an additional 58 shares during the period. Versant Capital Management Inc lifted its stake in Valero Energy by 4.7% in the first quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 59 shares during the period. International Private Wealth Advisors LLC boosted its holdings in Valero Energy by 3.4% in the second quarter. International Private Wealth Advisors LLC now owns 1,970 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 65 shares in the last quarter. Aua Capital Management LLC increased its position in Valero Energy by 3.1% during the 1st quarter. Aua Capital Management LLC now owns 2,261 shares of the oil and gas company’s stock valued at $386,000 after purchasing an additional 67 shares during the period. Finally, OmniStar Financial Group Inc. raised its holdings in Valero Energy by 1.6% in the 2nd quarter. OmniStar Financial Group Inc. now owns 4,543 shares of the oil and gas company’s stock worth $712,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $134.39 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The company has a market capitalization of $43.94 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79. The company’s 50-day moving average is $145.42 and its 200 day moving average is $155.06.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.11. The company had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.40 earnings per share. Sell-side analysts expect that Valero Energy Co. will post 12.3 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Thursday, August 1st. Valero Energy’s payout ratio is currently 21.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VLO shares. StockNews.com cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their target price on Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wolfe Research began coverage on Valero Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price target on the stock. Barclays decreased their price objective on Valero Energy from $171.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and an average price target of $168.07.

Valero Energy 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.