Empowered Funds LLC Trims Stock Position in Valero Energy Co. (NYSE:VLO)

Empowered Funds LLC trimmed its holdings in shares of Valero Energy Co. (NYSE:VLO) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,271 shares of the oil and gas company’s stock after selling 11,743 shares during the period. Valero Energy comprises approximately 0.5% of Empowered Funds LLC’s holdings, making the stock its 24th biggest holding. Empowered Funds LLC’s holdings in Valero Energy were worth $30,013,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Valero Energy in the 2nd quarter valued at $27,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy during the second quarter valued at about $29,000. Summit Securities Group LLC purchased a new stake in Valero Energy during the 2nd quarter worth approximately $31,000. Pathway Financial Advisers LLC acquired a new stake in Valero Energy in the first quarter valued at $33,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Valero Energy in the 3rd quarter worth about $34,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VLO has been the subject of a number of research reports. TD Cowen decreased their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho lowered their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Wolfe Research initiated coverage on Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price target on the stock. Bank of America initiated coverage on Valero Energy in a research report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Finally, Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $169.00 to $123.00 in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.86.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $140.65 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market capitalization of $44.53 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.56 and a beta of 1.39. The business has a 50-day moving average of $135.62 and a two-hundred day moving average of $146.75. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.49 EPS. On average, equities research analysts predict that Valero Energy Co. will post 9.1 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.04%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

About Valero Energy

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.