Valero Energy Corporation $VLO Stock Sold by Cherokee Insurance Co

Cherokee Insurance Co trimmed its stake in Valero Energy Corporation (NYSE:VLO) by 22.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,850 shares of the oil and gas company’s stock after selling 2,500 shares during the quarter. Valero Energy makes up about 1.2% of Cherokee Insurance Co’s portfolio, making the stock its 26th biggest holding. Cherokee Insurance Co’s holdings in Valero Energy were worth $3,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VLO. Cornerstone Financial Management LLC boosted its holdings in shares of Valero Energy by 57.6% in the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in Valero Energy during the third quarter worth $32,000. Global Assets Advisory LLC bought a new stake in Valero Energy during the first quarter worth $33,000. Latitude Advisors LLC bought a new stake in Valero Energy during the third quarter worth $34,000. Finally, Mascoma Wealth Management LLC raised its position in Valero Energy by 1,980.0% during the third quarter. Mascoma Wealth Management LLC now owns 104 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VLO shares. Morgan Stanley lifted their price objective on shares of Valero Energy from $411.00 to $420.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Dbs Bank cut shares of Valero Energy to a “hold” rating and set a $436.00 target price on the stock. in a report on Monday, October 19th. Mizuho raised their target price on shares of Valero Energy from $434.00 to $436.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Evercore reduced their price target on Valero Energy from $385.00 to $325.00 in a report on Wednesday, October 28th. Finally, TD Cowen boosted their price target on Valero Energy from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $406.32.

Valero Energy Price Performance

Shares of VLO opened at $364.23 on Thursday. The company’s 50-day moving average is $399.54 and its 200-day moving average is $292.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. The firm has a market capitalization of $101.58 billion, a PE ratio of 8.19, a PEG ratio of 0.18 and a beta of 0.58. Valero Energy Corporation has a fifty-two week low of $159.90 and a fifty-two week high of $461.52.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The business had revenue of $46.10 billion for the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. Valero Energy’s quarterly revenue was up 43.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.66 EPS. Equities analysts forecast that Valero Energy Corporation will post 58.33 EPS for the current year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 24th. Valero Energy’s payout ratio is currently 10.80%.

Latest Valero Energy News

These are some of the VLO news items that stood out recently:

• Positive Sentiment: Zacks highlighted Valero for above-average financial growth and included VLO among its Rank #1 (Strong Buy) growth stocks, potentially reinforcing the bullish case for earnings prospects. Article: 3 Reasons Why Growth Investors Shouldn’t Overlook Valero Energy Article: Best Growth Stocks to Buy for November 11th
• Positive Sentiment: The board affirmed Valero’s regular $1.20-per-share quarterly dividend, payable December 21 to shareholders of record November 24. The article also points to discounted heavy crude, favorable freight rates, and renewable-fuels operations as potential business supports. Article: How Investors May Respond to Valero Energy Dividend Affirmation
• Neutral Sentiment: A MarketWatch report said VLO underperformed competitors on Tuesday, a relative-performance note that may weigh on sentiment but does not identify a new company-specific development. Article: Valero Energy Stock Underperforms Tuesday Compared with Competitors

Valero Energy Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.