Linscomb Wealth Inc. Trims Holdings in Valero Energy Co. (NYSE:VLO)

Linscomb Wealth Inc. reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,285 shares of the oil and gas company’s stock after selling 150 shares during the period. Linscomb Wealth Inc.’s holdings in Valero Energy were worth $849,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of VLO. EdgeRock Capital LLC acquired a new stake in shares of Valero Energy during the second quarter worth $27,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy in the 2nd quarter worth $29,000. Summit Securities Group LLC purchased a new stake in shares of Valero Energy in the second quarter valued at about $31,000. Pathway Financial Advisers LLC purchased a new position in Valero Energy during the first quarter worth about $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Valero Energy in the third quarter valued at about $34,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VLO has been the subject of several recent analyst reports. Bank of America initiated coverage on Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target for the company. Barclays decreased their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Mizuho reduced their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Scotiabank lowered 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 research report on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $169.00 to $123.00 in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $155.86.

Valero Energy Price Performance

Valero Energy stock opened at $140.16 on Friday. The firm’s 50-day moving average is $135.83 and its two-hundred day moving average is $146.51. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market capitalization of $44.37 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.56 and a beta of 1.39. Valero Energy Co. has a 12-month low of $120.21 and a 12-month 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 for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.49 EPS. Equities analysts predict that Valero Energy Co. will post 9.1 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is 38.39%.

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.