King Luther Capital Management Corp Has $1.80 Million Stake in Valero Energy Co. (NYSE:VLO)

King Luther Capital Management Corp reduced its holdings in Valero Energy Co. (NYSE:VLO) by 17.4% during the 3rd quarter, Holdings Channel reports. The fund owned 13,345 shares of the oil and gas company’s stock after selling 2,809 shares during the quarter. King Luther Capital Management Corp’s holdings in Valero Energy were worth $1,802,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Gamco Investors INC. ET AL acquired a new stake in shares of Valero Energy in the first quarter valued at $219,000. LRI Investments LLC acquired a new position in shares of Valero Energy during the first quarter worth approximately $39,000. Steel Grove Capital Advisors LLC bought a new stake in shares of Valero Energy during the first quarter valued at approximately $256,000. BOKF NA increased its holdings in shares of Valero Energy by 402.7% in the first quarter. BOKF NA now owns 17,303 shares of the oil and gas company’s stock valued at $2,987,000 after purchasing an additional 13,861 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Valero Energy by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,063,923 shares of the oil and gas company’s stock worth $352,292,000 after purchasing an additional 65,632 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

VLO opened at $140.87 on Friday. 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 company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.65 and a beta of 1.39. The business’s 50-day moving average price is $136.59 and its two-hundred day moving average price is $145.97. Valero Energy Co. has a 1 year low of $120.21 and a 1 year high of $184.79.

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 for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter in the prior year, the firm posted $7.49 EPS. The business’s revenue was down 14.4% on a year-over-year basis. Equities analysts expect that Valero Energy Co. will post 8.92 EPS for the current fiscal 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 paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.04%. Valero Energy’s payout ratio is currently 38.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America started coverage on Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. The Goldman Sachs Group lowered their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Finally, TD Cowen reduced their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.86.

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.