Fiduciary Trust Co Sells 1,638 Shares of Valero Energy Co. (NYSE:VLO)

Fiduciary Trust Co cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,851 shares of the oil and gas company’s stock after selling 1,638 shares during the quarter. Fiduciary Trust Co’s holdings in Valero Energy were worth $6,356,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VLO. Norges Bank purchased a new position in Valero Energy in the 4th quarter worth approximately $669,400,000. Vanguard Group Inc. increased its holdings in shares of Valero Energy by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock worth $4,257,024,000 after purchasing an additional 4,805,133 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Valero Energy in the fourth quarter worth $132,469,000. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 529,513 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 last quarter. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VLO. Scotiabank lowered their target price on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Piper Sandler lowered their price objective on shares of Valero Energy from $144.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday. 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 raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on Valero Energy from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.53.

Valero Energy Price Performance

NYSE:VLO opened at $122.97 on Friday. The business’s 50-day simple moving average is $120.15 and its two-hundred day simple moving average is $128.47. Valero Energy Co. has a 52 week low of $99.00 and a 52 week high of $167.78. The stock has a market cap of $38.51 billion, a PE ratio of 14.50, a P/E/G ratio of 2.93 and a beta of 0.98. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. The business had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. During the same period last year, the business posted $3.82 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, analysts forecast that Valero Energy Co. will post 7.92 EPS 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 dividend of $1.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $4.52 annualized dividend and a yield of 3.68%. Valero Energy’s payout ratio is 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.