Valero Energy Co. (NYSE:VLO) Stake Cut by Petra Financial Advisors Inc.

Petra Financial Advisors Inc. lessened its holdings in shares of Valero Energy Co. (NYSE:VLO) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,730 shares of the oil and gas company’s stock after selling 259 shares during the quarter. Petra Financial Advisors Inc.’s holdings in Valero Energy were worth $504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. EdgeRock Capital LLC acquired a new stake in Valero Energy in the 2nd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy in the 2nd quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of Valero Energy in the 2nd quarter worth approximately $31,000. Pathway Financial Advisers LLC acquired a new stake in shares of Valero Energy in the first quarter valued at $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Valero Energy during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

VLO stock traded up $0.36 during trading on Thursday, hitting $129.09. 233,869 shares of the company’s stock traded hands, compared to its average volume of 2,972,635. The stock has a market capitalization of $41.36 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 3.45 and a beta of 1.39. 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 business has a fifty day simple moving average of $137.31 and a 200 day simple moving average of $148.99. Valero Energy Co. has a 52 week low of $119.88 and a 52 week high of $184.79.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The company 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 13.01% and a net margin of 2.74%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.49 earnings per share. As a group, research analysts expect that Valero Energy Co. will post 9.6 EPS for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.32%. Valero Energy’s dividend payout ratio is currently 38.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VLO shares. BMO Capital Markets reduced their price target on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $172.00 to $165.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Scotiabank lowered their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Bank of America initiated coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.29.

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.