Cornerstone Wealth Management LLC Trims Stock Holdings in Valero Energy Co. (NYSE:VLO)

Cornerstone Wealth Management LLC cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,986 shares of the oil and gas company’s stock after selling 206 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Valero Energy were worth $489,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Valero Energy in the third quarter worth $28,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Valero Energy in the 3rd quarter worth about $34,000. True Wealth Design LLC lifted its position in shares of Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Valero Energy in the third quarter worth about $38,000. Finally, Ashton Thomas Securities LLC bought a new stake in Valero Energy in the third quarter valued at about $50,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Down 0.7 %

Shares of Valero Energy stock opened at $139.80 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. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The business’s fifty day moving average price is $131.28 and its two-hundred day moving average price is $137.93. The company has a market capitalization of $44.26 billion, a P/E ratio of 12.54, a PEG ratio of 2.81 and a beta of 1.42.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion for the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.49 earnings per share. As a group, research analysts forecast that Valero Energy Co. will post 7.93 EPS for the current year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be paid a $1.13 dividend. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, January 30th. Valero Energy’s dividend payout ratio is currently 38.39%.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research analyst reports. 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. Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Bank of America assumed coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. Barclays decreased their price target on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, BMO Capital Markets dropped their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.57.

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.