MGB Wealth Management LLC Reduces Holdings in Valero Energy Co. (NYSE:VLO)

MGB Wealth Management LLC decreased its holdings in shares of Valero Energy Co. (NYSE:VLO) by 24.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,735 shares of the oil and gas company’s stock after selling 3,100 shares during the period. MGB Wealth Management LLC’s holdings in Valero Energy were worth $1,315,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. EdgeRock Capital LLC purchased a new stake in Valero Energy in the second quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new stake in Valero Energy in the third quarter valued at approximately $28,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the second quarter valued at approximately $29,000. Summit Securities Group LLC purchased a new stake in Valero Energy in the second quarter valued at approximately $31,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their price objective on 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. Mizuho lowered their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America assumed coverage on Valero Energy in a research report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned 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 a consensus price target of $155.86.

Valero Energy Price Performance

Shares of NYSE VLO opened at $140.91 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79. The firm has a market capitalization of $44.61 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.63 and a beta of 1.39. The stock’s 50-day simple moving average is $136.59 and its 200-day simple moving average is $145.89.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion for 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%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.49 EPS. As a group, equities research analysts forecast that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be paid a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.04%. Valero Energy’s dividend payout ratio (DPR) is currently 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.