Access Financial Services Inc. Lowers Stake in Valero Energy Co. (NYSE:VLO)

Access Financial Services Inc. reduced its position in Valero Energy Co. (NYSE:VLO) by 23.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,886 shares of the oil and gas company’s stock after selling 2,981 shares during the quarter. Access Financial Services Inc.’s holdings in Valero Energy were worth $1,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new position in shares of Valero Energy in the second quarter worth about $27,000. Lynx Investment Advisory acquired a new position in Valero Energy during the second quarter valued at $29,000. Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the first quarter valued at $33,000. Rise Advisors LLC purchased a new position in shares of Valero Energy during the 1st quarter valued at about $33,000. Finally, First Foundation Advisors purchased a new stake in shares of Valero Energy in the first quarter worth about $37,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Up 1.7 %

VLO stock traded up $2.44 during mid-day trading on Friday, hitting $145.87. 1,523,954 shares of the company were exchanged, compared to its average volume of 2,482,840. The business has a fifty day simple moving average of $151.01 and a 200-day simple moving average of $155.58. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. Valero Energy Co. has a 12-month low of $119.88 and a 12-month high of $184.79. The firm has a market capitalization of $47.70 billion, a P/E ratio of 7.22, a PEG ratio of 2.79 and a beta of 1.42.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. During the same period in the previous year, the company posted $5.40 EPS. Valero Energy’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that Valero Energy Co. will post 12.86 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be issued a dividend of $1.07 per share. The ex-dividend date is Thursday, August 1st. This represents a $4.28 annualized dividend and a yield of 2.93%. Valero Energy’s dividend payout ratio (DPR) is 21.20%.

Analyst Ratings Changes

Several research firms have recently issued reports on VLO. Barclays decreased their target price on Valero Energy from $171.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company upped their price target on shares of Valero Energy from $156.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on Valero Energy from $178.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Argus cut Valero Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Piper Sandler lowered their price target on Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.00.

Valero Energy 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.