Hancock Whitney Corp cut its stake in Valero Energy Co. (NYSE:VLO) by 32.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,961 shares of the oil and gas company’s stock after selling 21,712 shares during the quarter. Hancock Whitney Corp’s holdings in Valero Energy were worth $2,085,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new position in Valero Energy in the 4th quarter valued at about $33,000. Raab & Moskowitz Asset Management LLC purchased a new position in Valero Energy in the 4th quarter worth approximately $36,000. Savior LLC purchased a new position in Valero Energy in the 4th quarter worth approximately $38,000. Princeton Global Asset Management LLC purchased a new position in Valero Energy in the 4th quarter worth approximately $46,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Valero Energy in the 4th quarter worth approximately $47,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Argus decreased their target price on shares of Valero Energy from $110.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Barclays reissued a “buy” rating and issued a $71.00 target price on shares of Valero Energy in a research note on Tuesday, May 5th. Raymond James raised their target price on shares of Valero Energy from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Piper Sandler raised shares of Valero Energy from a “neutral” rating to an “overweight” rating and set a $97.00 target price on the stock in a research note on Thursday, March 12th. Finally, Mizuho raised shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Monday, May 4th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Valero Energy currently has a consensus rating of “Buy” and a consensus target price of $79.50.
VLO stock opened at $65.68 on Friday. The firm has a market cap of $26.80 billion, a PE ratio of 12.04 and a beta of 1.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 1.31. The firm’s 50 day moving average price is $54.99 and its 200-day moving average price is $76.01. Valero Energy Co. has a one year low of $31.00 and a one year high of $101.99.
Valero Energy (NYSE:VLO) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.49. Valero Energy had a net margin of 0.41% and a return on equity of 10.51%. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.22 billion. During the same quarter last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts predict that Valero Energy Co. will post -1.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, May 14th will be issued a $0.98 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.92 annualized dividend and a yield of 5.97%. Valero Energy’s dividend payout ratio (DPR) is presently 68.77%.
In related news, Director Randall J. Weisenburger bought 45,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $47.31 per share, for a total transaction of $2,128,950.00. Following the acquisition, the director now owns 100,274 shares of the company’s stock, valued at $4,743,962.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
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