Securian Asset Management Inc. reduced its position in shares of Valero Energy Corporation (NYSE:VLO – Free Report) by 44.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,293 shares of the oil and gas company’s stock after selling 6,693 shares during the period. Securian Asset Management Inc.’s holdings in Valero Energy were worth $1,350,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in VLO. Arrowstreet Capital Limited Partnership acquired a new position in Valero Energy during the 3rd quarter worth approximately $275,239,000. Franklin Resources Inc. raised its stake in Valero Energy by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,273,517 shares of the oil and gas company’s stock worth $897,869,000 after buying an additional 249,195 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Valero Energy by 13.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,929,599 shares of the oil and gas company’s stock worth $328,534,000 after buying an additional 226,167 shares during the period. Voloridge Investment Management LLC raised its stake in Valero Energy by 96.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 444,919 shares of the oil and gas company’s stock worth $75,752,000 after buying an additional 218,448 shares during the period. Finally, Barclays PLC raised its stake in shares of Valero Energy by 5.3% in the third quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company’s stock worth $705,502,000 after purchasing an additional 209,597 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Barclays increased their price objective on Valero Energy from $184.00 to $261.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Piper Sandler increased their price objective on Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Scotiabank increased their price objective on Valero Energy from $178.00 to $226.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Valero Energy from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company increased their price objective on Valero Energy from $220.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.94.
Valero Energy Stock Performance
VLO stock opened at $247.14 on Wednesday. The firm has a market cap of $73.38 billion, a PE ratio of 17.96, a P/E/G ratio of 0.35 and a beta of 0.58. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $237.37 and a 200-day moving average of $200.32. Valero Energy Corporation has a 12-month low of $125.10 and a 12-month high of $258.43.
Valero Energy (NYSE:VLO – Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The company had revenue of $32.38 billion during the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.Valero Energy’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts expect that Valero Energy Corporation will post 28.02 earnings per share for the current year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Valero Energy’s dividend payout ratio is currently 34.88%.
Insider Activity
In other news, SVP Eric A. Fisher sold 8,311 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $227.69, for a total value of $1,892,331.59. Following the completion of the transaction, the senior vice president directly owned 42,242 shares of the company’s stock, valued at $9,618,080.98. This represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Valero Energy Company Profile
Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.
In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.
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