Guinness Atkinson Asset Management Inc Reduces Stock Holdings in Valero Energy Co. (NYSE:VLO)

Guinness Atkinson Asset Management Inc cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,157 shares of the oil and gas company’s stock after selling 164 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Valero Energy were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new position in Valero Energy in the 2nd quarter valued at $15,945,000. 180 Wealth Advisors LLC acquired a new position in Valero Energy during the second quarter worth $535,000. UniSuper Management Pty Ltd boosted its position in shares of Valero Energy by 223.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company’s stock valued at $1,843,000 after acquiring an additional 7,455 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Valero Energy during the first quarter worth about $982,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Valero Energy by 23.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock worth $6,696,000 after purchasing an additional 8,198 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Trading Down 0.3 %

Shares of NYSE VLO traded down $0.37 during trading on Friday, hitting $142.34. 1,632,114 shares of the company traded hands, compared to its average volume of 3,268,456. The firm has a market capitalization of $45.60 billion, a P/E ratio of 8.13, a P/E/G ratio of 3.71 and a beta of 1.39. 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 company has a 50-day moving average price of $141.01 and a 200-day moving average price of $152.90. Valero Energy Co. has a 1 year low of $119.88 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The firm had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. During the same quarter last year, the firm posted $5.40 earnings per share. Valero Energy’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts predict that Valero Energy Co. will post 9.61 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, August 1st. Valero Energy’s dividend payout ratio is presently 24.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VLO shares. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $172.00 to $165.00 in a research report on Wednesday. StockNews.com lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets lowered their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. The Goldman Sachs Group reduced their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank decreased their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and an average target price of $162.60.

Valero Energy Company 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.