Peapack Gladstone Financial Corp Trims Holdings in Valero Energy Co. (NYSE:VLO)

Peapack Gladstone Financial Corp cut its stake in Valero Energy Co. (NYSE:VLO) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,712 shares of the oil and gas company’s stock after selling 520 shares during the period. Peapack Gladstone Financial Corp’s holdings in Valero Energy were worth $1,987,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new position in shares of Valero Energy during the second quarter worth approximately $27,000. Summit Securities Group LLC purchased a new position in Valero Energy during the 2nd quarter worth $31,000. Peterson Financial Group Inc. bought a new stake in Valero Energy during the 3rd quarter valued at $28,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Valero Energy in the 3rd quarter worth $34,000. Finally, American Capital Advisory LLC bought a new position in shares of Valero Energy during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

VLO opened at $129.14 on Friday. The company has a market cap of $40.88 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $136.27 and its 200-day moving average price is $143.27. Valero Energy Co. has a 52-week low of $124.02 and a 52-week high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly 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. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter in the prior year, the business posted $7.49 EPS. Valero Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, equities analysts anticipate that Valero Energy Co. will post 8.86 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.31%. Valero Energy’s dividend payout ratio is currently 38.39%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VLO shares. BMO Capital Markets decreased their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank lowered their price target 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. Mizuho cut their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Bank of America assumed coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $155.50.

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.