Valero Energy Co. (NYSE:VLO) Stock Holdings Lowered by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc decreased its position in Valero Energy Co. (NYSE:VLO) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,157 shares of the oil and gas company’s stock after selling 164 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Valero Energy were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in Valero Energy during the second quarter worth approximately $27,000. Lynx Investment Advisory bought a new stake in shares of Valero Energy in the 2nd quarter worth approximately $29,000. Pathway Financial Advisers LLC acquired a new stake in Valero Energy during the first quarter valued at approximately $33,000. Rise Advisors LLC bought a new stake in Valero Energy during the first quarter worth approximately $33,000. Finally, Summit Securities Group LLC acquired a new position in Valero Energy in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VLO shares. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group reduced their price target on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company upgraded Valero Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $172.00 to $165.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.60.

Valero Energy Stock Performance

Shares of Valero Energy stock traded down $0.37 on Friday, reaching $142.34. The stock had a trading volume of 1,632,114 shares, compared to its average volume of 3,268,456. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. Valero Energy Co. has a fifty-two week low of $119.88 and a fifty-two week high of $184.79. The business’s 50-day moving average price is $141.01 and its two-hundred day moving average price is $152.90. The stock has a market cap of $45.60 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 3.71 and a beta of 1.39.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $32.97 billion. During the same period in the previous year, the business posted $5.40 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Valero Energy Co. will post 9.61 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, August 1st. Valero Energy’s dividend payout ratio (DPR) is presently 24.46%.

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.