Sound Income Strategies LLC Sells 31,644 Shares of Valero Energy Co. (NYSE:VLO)

Sound Income Strategies LLC cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 25.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,889 shares of the oil and gas company’s stock after selling 31,644 shares during the quarter. Valero Energy makes up 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 26th largest position. Sound Income Strategies LLC’s holdings in Valero Energy were worth $15,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLO. Norges Bank bought a new stake in shares of Valero Energy in the 4th quarter valued at about $570,428,000. International Assets Investment Management LLC raised its holdings in Valero Energy by 12,883.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,047,360 shares of the oil and gas company’s stock valued at $136,157,000 after acquiring an additional 1,039,293 shares during the period. Morgan Stanley raised its holdings in Valero Energy by 6.1% in the 3rd quarter. Morgan Stanley now owns 8,961,603 shares of the oil and gas company’s stock valued at $1,269,949,000 after acquiring an additional 517,068 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in Valero Energy by 18.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 2,389,654 shares of the oil and gas company’s stock valued at $310,655,000 after acquiring an additional 376,449 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Valero Energy by 14.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,788,994 shares of the oil and gas company’s stock valued at $362,569,000 after acquiring an additional 342,218 shares during the period. 78.69% of the stock is owned by institutional investors.

Valero Energy Trading Down 0.2 %

VLO stock traded down $0.27 during midday trading on Wednesday, hitting $153.52. The stock had a trading volume of 3,842,940 shares, compared to its average volume of 3,146,577. The firm has a market cap of $50.20 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 1.50 and a beta of 1.47. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 1-year low of $112.04 and a 1-year high of $184.79. The business has a fifty day moving average price of $157.94 and a two-hundred day moving average price of $149.80.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.64. The business had revenue of $31.76 billion for the quarter, compared to analyst estimates of $32.02 billion. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. Valero Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.27 earnings per share. On average, sell-side analysts predict that Valero Energy Co. will post 17.09 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 30th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.28 annualized dividend and a yield of 2.79%. Valero Energy’s payout ratio is 21.20%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VLO shares. JPMorgan Chase & Co. increased their price target on shares of Valero Energy from $177.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Barclays decreased their target price on shares of Valero Energy from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company decreased their target price on shares of Valero Energy from $184.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Citigroup increased their target price on shares of Valero Energy from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Scotiabank lifted their price objective on shares of Valero Energy from $138.00 to $165.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.00.

Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of Valero Energy stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $158.12, for a total value of $113,846.40. Following the completion of the sale, the director now directly owns 13,314 shares of the company’s stock, valued at $2,105,209.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

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.