SeaCrest Wealth Management LLC Reduces Stock Position in Valero Energy Co. (NYSE:VLO)

SeaCrest Wealth Management LLC lessened its position in shares of Valero Energy Co. (NYSE:VLO) by 5.6% during the 4th quarter, Holdings Channel reports. The firm owned 10,732 shares of the oil and gas company’s stock after selling 633 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Valero Energy were worth $1,316,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Valero Energy by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after purchasing an additional 22,571 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Valero Energy during the 4th quarter valued at about $1,226,000. Captrust Financial Advisors grew its stake in Valero Energy by 7.5% during the 3rd quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company’s stock valued at $12,121,000 after purchasing an additional 6,278 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in Valero Energy by 136.1% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company’s stock valued at $10,143,000 after purchasing an additional 43,299 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Valero Energy by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after purchasing an additional 192,397 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $138.10 on Thursday. The business has a 50 day simple moving average of $131.10 and a two-hundred day simple moving average of $138.59. Valero Energy Co. has a 12 month low of $116.84 and a 12 month high of $184.79. The stock has a market capitalization of $43.72 billion, a P/E ratio of 12.39, a PEG ratio of 2.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter in the prior year, the firm earned $7.49 earnings per share. The business’s revenue was down 14.4% compared to the same quarter last year. As a group, analysts predict that Valero Energy Co. will post 8.86 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.10%. Valero Energy’s payout ratio is currently 38.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VLO. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. TD Cowen lowered their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company lowered their target price on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. BMO Capital Markets lowered their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Scotiabank lowered their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $154.57.

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.