Pallas Capital Advisors LLC Sells 333 Shares of Valero Energy Co. (NYSE:VLO)

Pallas Capital Advisors LLC lowered its stake in Valero Energy Co. (NYSE:VLO) by 15.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,862 shares of the oil and gas company’s stock after selling 333 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Valero Energy were worth $245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Valero Energy in the second quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the second quarter worth approximately $29,000. Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the first quarter worth approximately $33,000. Summit Securities Group LLC purchased a new stake in Valero Energy in the second quarter worth approximately $31,000. Finally, First Foundation Advisors purchased a new stake in Valero Energy in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Down 1.2 %

VLO opened at $128.22 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. Valero Energy Co. has a fifty-two week low of $119.88 and a fifty-two week high of $184.79. The firm’s fifty day moving average is $136.69 and its 200 day moving average is $148.56. The stock has a market cap of $41.08 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 2.30 and a beta of 1.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.01%. Valero Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.49 EPS. On average, sell-side analysts forecast that Valero Energy Co. will post 9.32 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.34%. Valero Energy’s dividend payout ratio is currently 38.39%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLO. Mizuho dropped their target price on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. BMO Capital Markets dropped their price target 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. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $172.00 to $165.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Citigroup dropped their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target 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.