Gabelli Funds LLC Reduces Position in Valero Energy Co. (NYSE:VLO)

Gabelli Funds LLC lowered its stake in Valero Energy Co. (NYSE:VLO) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,100 shares of the oil and gas company’s stock after selling 400 shares during the period. Gabelli Funds LLC’s holdings in Valero Energy were worth $8,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VLO. 9258 Wealth Management LLC raised its stake in Valero Energy by 7.2% in the 4th quarter. 9258 Wealth Management LLC now owns 1,704 shares of the oil and gas company’s stock worth $222,000 after acquiring an additional 114 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Valero Energy by 9.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 18,171 shares of the oil and gas company’s stock worth $2,349,000 after purchasing an additional 1,539 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Valero Energy by 4.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 130,007 shares of the oil and gas company’s stock worth $16,901,000 after purchasing an additional 6,110 shares during the period. Hsbc Holdings PLC boosted its position in Valero Energy by 15.0% in the fourth quarter. Hsbc Holdings PLC now owns 945,852 shares of the oil and gas company’s stock valued at $122,997,000 after buying an additional 123,357 shares during the last quarter. Finally, Heritage Wealth Advisors increased its holdings in Valero Energy by 6.6% in the 4th quarter. Heritage Wealth Advisors now owns 2,776 shares of the oil and gas company’s stock worth $361,000 after buying an additional 171 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Up 0.5 %

Shares of VLO opened at $135.18 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. The firm has a market cap of $44.20 billion, a P/E ratio of 6.70, a PEG ratio of 2.72 and a beta of 1.40. The stock’s 50 day moving average is $145.14 and its two-hundred day moving average is $155.11. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79.

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

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Thursday, August 1st. Valero Energy’s dividend payout ratio is presently 21.20%.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company boosted their target price on shares of Valero Energy from $165.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 3rd. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $169.00 to $123.00 in a research report on Friday. Mizuho reduced their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their target price on Valero Energy from $178.00 to $172.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.07.

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.