Heritage Wealth Management Inc. Sells 394 Shares of Valero Energy Co. (NYSE:VLO)

Heritage Wealth Management Inc. reduced its stake in Valero Energy Co. (NYSE:VLO) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 19,650 shares of the oil and gas company’s stock after selling 394 shares during the quarter. Valero Energy accounts for approximately 0.9% of Heritage Wealth Management Inc.’s portfolio, making the stock its 22nd biggest position. Heritage Wealth Management Inc.’s holdings in Valero Energy were worth $2,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stiles Financial Services Inc lifted its position in shares of Valero Energy by 8.2% during the 3rd quarter. Stiles Financial Services Inc now owns 12,856 shares of the oil and gas company’s stock valued at $1,737,000 after buying an additional 972 shares during the last quarter. Lewis Asset Management LLC lifted its holdings in Valero Energy by 3.4% during the 3rd quarter. Lewis Asset Management LLC now owns 5,428 shares of the oil and gas company’s stock worth $733,000 after purchasing an additional 181 shares in the last quarter. Consolidated Planning Corp grew its stake in Valero Energy by 180.9% during the third quarter. Consolidated Planning Corp now owns 5,026 shares of the oil and gas company’s stock valued at $679,000 after acquiring an additional 3,237 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in Valero Energy by 6.4% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,420 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 85 shares during the period. Finally, Olympiad Research LP purchased a new stake in Valero Energy in the 3rd quarter worth approximately $437,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Down 0.8 %

Shares of NYSE:VLO traded down $1.11 during trading on Friday, reaching $135.00. The stock had a trading volume of 75,359 shares, compared to its average volume of 2,961,100. The company has a market capitalization of $42.74 billion, a P/E ratio of 12.21, a PEG ratio of 2.51 and a beta of 1.39. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $136.20 and its 200 day simple moving average is $147.77.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter last year, the company posted $7.49 earnings per share. The business’s quarterly revenue was down 14.4% on a year-over-year basis. As a group, research analysts expect that Valero Energy Co. will post 9.21 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is 38.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VLO. TD Cowen decreased their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $172.00 to $165.00 in a research note on Wednesday, October 9th. The Goldman Sachs Group lowered their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Wolfe Research assumed coverage on shares of Valero Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective for the company. Finally, Barclays reduced their target price on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.29.

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.