Montgomery Investment Management Inc. Reduces Stake in Valero Energy Corporation $VLO

Montgomery Investment Management Inc. reduced its stake in Valero Energy Corporation (NYSE:VLO) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,590 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Valero Energy makes up approximately 1.5% of Montgomery Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Montgomery Investment Management Inc.’s holdings in Valero Energy were worth $3,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Consolidated Planning Corp purchased a new position in Valero Energy in the second quarter worth approximately $339,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Valero Energy by 57.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 298,757 shares of the oil and gas company’s stock worth $40,159,000 after purchasing an additional 109,546 shares during the period. Newman Dignan & Sheerar Inc. purchased a new position in shares of Valero Energy during the 2nd quarter worth $215,000. SOA Wealth Advisors LLC. boosted its stake in Valero Energy by 516.1% during the second quarter. SOA Wealth Advisors LLC. now owns 764 shares of the oil and gas company’s stock worth $103,000 after buying an additional 640 shares during the period. Finally, QTR Family Wealth LLC boosted its stake in Valero Energy by 16.2% during the second quarter. QTR Family Wealth LLC now owns 2,333 shares of the oil and gas company’s stock worth $314,000 after buying an additional 325 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on VLO shares. Wolfe Research lowered shares of Valero Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Citigroup lowered Valero Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. TD Cowen lowered Valero Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Piper Sandler raised their target price on Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Valero Energy Trading Down 1.5%

NYSE:VLO opened at $167.63 on Thursday. The firm has a market cap of $52.07 billion, a PE ratio of 69.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The stock has a fifty day moving average price of $150.40 and a 200 day moving average price of $136.51. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. Sell-side analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.7%. Valero Energy’s payout ratio is currently 188.33%.

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.