Johnson Investment Counsel Inc. Decreases Stock Holdings in Valero Energy Co. (NYSE:VLO)

Johnson Investment Counsel Inc. cut its stake in Valero Energy Co. (NYSE:VLO) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,106 shares of the oil and gas company’s stock after selling 775 shares during the period. Johnson Investment Counsel Inc.’s holdings in Valero Energy were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in VLO. EdgeRock Capital LLC acquired a new stake in shares of Valero Energy in the 2nd quarter worth $27,000. Lynx Investment Advisory purchased a new stake in shares of Valero Energy in the second quarter valued at about $29,000. Summit Securities Group LLC acquired a new stake in Valero Energy during the second quarter worth about $31,000. Rise Advisors LLC purchased a new position in Valero Energy during the first quarter worth about $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Valero Energy in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO opened at $134.26 on Friday. The company has a market cap of $43.01 billion, a P/E ratio of 6.65, a PEG ratio of 2.73 and a beta of 1.40. Valero Energy Co. has a fifty-two week low of $119.88 and a fifty-two week high of $184.79. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average price is $146.50 and its 200 day moving average price is $155.28.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The business had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.40 earnings per share. On average, research analysts forecast that Valero Energy Co. will post 12.3 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Thursday, August 1st. Valero Energy’s payout ratio is presently 21.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VLO. StockNews.com lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research began coverage on Valero Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price target on the stock. Barclays lowered their price target on Valero Energy from $171.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Scotiabank upped their target price on shares of Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Finally, Piper Sandler lowered their target price on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $174.50.

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.