SteelPeak Wealth LLC Lowers Stake in Valero Energy Co. (NYSE:VLO)

SteelPeak Wealth LLC cut its position in Valero Energy Co. (NYSE:VLO - Free Report) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,616 shares of the oil and gas company's stock after selling 6,090 shares during the quarter. SteelPeak Wealth LLC's holdings in Valero Energy were worth $6,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VLO. Silverlake Wealth Management LLC purchased a new stake in shares of Valero Energy during the 1st quarter valued at $201,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Valero Energy during the 1st quarter valued at $1,313,000. Norden Group LLC purchased a new stake in shares of Valero Energy during the 1st quarter valued at $7,683,000. Westside Investment Management Inc. raised its position in shares of Valero Energy by 30.3% during the 1st quarter. Westside Investment Management Inc. now owns 572 shares of the oil and gas company's stock valued at $98,000 after buying an additional 133 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Valero Energy by 5.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 13,223 shares of the oil and gas company's stock valued at $2,257,000 after buying an additional 647 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen lowered their price objective on shares of Valero Energy from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Scotiabank reduced their target price on shares of Valero Energy from $173.00 to $141.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Wolfe Research began coverage on shares of Valero Energy in a report on Thursday, July 18th. They set an "outperform" rating and a $177.00 target price on the stock. Citigroup reduced their target price on shares of Valero Energy from $192.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler lowered shares of Valero Energy from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, five 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 $154.53.

Valero Energy Trading Up 0.6 %

Valero Energy stock traded up $0.81 during trading hours on Wednesday, reaching $128.69. The stock had a trading volume of 2,522,809 shares, compared to its average volume of 2,985,673. The company has a fifty day simple moving average of $137.62 and a 200-day simple moving average of $149.13. The stock has a market cap of $41.23 billion, a PE ratio of 11.54, a PEG ratio of 3.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. Valero Energy Co. has a 52 week low of $119.88 and a 52 week high of $184.79.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share 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 net margin of 2.74% and a return on equity of 13.01%. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.49 EPS. Analysts forecast 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. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy's payout ratio is 38.39%.

Valero Energy Company 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.