Redwood Investment Management LLC Sells 33,754 Shares of Valero Energy Co. (NYSE:VLO)

Redwood Investment Management LLC decreased its position in Valero Energy Co. (NYSE:VLO) by 94.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,043 shares of the oil and gas company’s stock after selling 33,754 shares during the quarter. Redwood Investment Management LLC’s holdings in Valero Energy were worth $250,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in VLO. Norges Bank bought a new position in Valero Energy during the fourth quarter valued at about $669,400,000. Vanguard Group Inc. grew its position in Valero Energy by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock valued at $4,257,024,000 after buying an additional 4,805,133 shares during the period. Raymond James Financial Inc. bought a new position in Valero Energy during the fourth quarter valued at about $132,469,000. Northern Trust Corp grew its position in Valero Energy by 15.9% during the fourth quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company’s stock valued at $472,077,000 after buying an additional 529,513 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Valero Energy by 22.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company’s stock valued at $351,151,000 after buying an additional 525,255 shares during the period. Institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Barclays increased their target price on shares of Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. The Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $127.00 to $154.00 in a research report on Tuesday. Finally, Piper Sandler cut their target price on shares of Valero Energy from $144.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Valero Energy has an average rating of “Buy” and a consensus target price of $151.93.

Valero Energy Trading Up 0.3%

Shares of Valero Energy stock opened at $135.76 on Friday. Valero Energy Co. has a 12-month low of $99.00 and a 12-month high of $167.78. The company has a market cap of $42.52 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.93 and a beta of 0.98. 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 company’s 50-day moving average price is $121.08 and its 200-day moving average price is $128.57.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to analysts’ expectations of $28.54 billion. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 earnings per share. On average, equities analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, May 20th. Valero Energy’s dividend payout ratio is currently 159.72%.

About Valero Energy

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.