Providence First Trust Co Sells 1,930 Shares of Valero Energy Corporation $VLO

Providence First Trust Co cut its stake in Valero Energy Corporation (NYSE:VLO) by 50.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,864 shares of the oil and gas company’s stock after selling 1,930 shares during the period. Providence First Trust Co’s holdings in Valero Energy were worth $723,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in shares of Valero Energy in the 2nd quarter worth about $1,195,943,000. Amundi lifted its position in shares of Valero Energy by 45.3% during the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock worth $638,695,000 after purchasing an additional 806,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Valero Energy by 33.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after purchasing an additional 520,642 shares during the last quarter. Corient Private Wealth LP acquired a new position in Valero Energy in the second quarter worth about $59,917,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Valero Energy by 18.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after purchasing an additional 442,177 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VLO. JPMorgan Chase & Co. upped their price objective on Valero Energy from $339.00 to $439.00 and gave the company an “overweight” rating in a research note on Thursday, October 8th. Morgan Stanley lifted their target price on Valero Energy from $411.00 to $420.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Dbs Bank downgraded Valero Energy to a “hold” rating and set a $436.00 price target for the company. in a report on Monday, October 19th. Weiss Ratings raised Valero Energy from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 29th. Finally, UBS Group reissued a “buy” rating and set a $467.00 price target (up from $355.00) on shares of Valero Energy in a research report on Tuesday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $406.32.

Valero Energy Stock Performance

Shares of NYSE:VLO traded down $4.94 during trading on Friday, reaching $346.29. 3,336,461 shares of the company’s stock traded hands, compared to its average volume of 2,752,991. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. Valero Energy Corporation has a 12 month low of $159.90 and a 12 month high of $461.52. The company has a 50 day moving average of $399.61 and a 200-day moving average of $289.61. The stock has a market capitalization of $99.71 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.20 and a beta of 0.58.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm had revenue of $46.10 billion for the quarter, compared to analysts’ expectations of $42.71 billion. During the same quarter last year, the company posted $3.66 earnings per share. Valero Energy’s revenue was up 43.3% on a year-over-year basis. On average, equities analysts expect that Valero Energy Corporation will post 57.83 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, November 24th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. Valero Energy’s dividend payout ratio (DPR) is 10.80%.

Valero Energy Company Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.