Private Management Group Inc. cut its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 17.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 300,171 shares of the oil and gas company’s stock after selling 65,093 shares during the quarter. Valero Energy makes up about 1.4% of Private Management Group Inc.’s holdings, making the stock its 5th biggest holding. Private Management Group Inc.’s holdings in Valero Energy were worth $48,865,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Barclays PLC grew its position in Valero Energy by 5.3% during the 3rd quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company’s stock worth $705,502,000 after acquiring an additional 209,597 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its position in Valero Energy by 33.5% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 42,376 shares of the oil and gas company’s stock worth $6,898,000 after acquiring an additional 10,634 shares during the last quarter. Friedenthal Financial bought a new stake in Valero Energy during the 4th quarter worth approximately $954,000. CWA Asset Management Group LLC grew its position in Valero Energy by 359.0% during the 4th quarter. CWA Asset Management Group LLC now owns 14,243 shares of the oil and gas company’s stock worth $2,319,000 after acquiring an additional 11,140 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in Valero Energy during the 3rd quarter worth approximately $3,249,000. 78.69% of the stock is owned by institutional investors and hedge funds.
Valero Energy Stock Down 1.1%
Shares of VLO opened at $255.03 on Friday. The firm has a market capitalization of $75.73 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 0.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. The business’s fifty day moving average price is $245.17 and its two-hundred day moving average price is $212.22. Valero Energy Corporation has a 52 week low of $130.78 and a 52 week high of $265.61.
Valero Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, May 21st. Valero Energy’s dividend payout ratio (DPR) is currently 34.88%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Piper Sandler increased their price target on Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded Valero Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Weiss Ratings upgraded Valero Energy from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Morgan Stanley increased their price objective on Valero Energy from $182.00 to $222.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $203.00 price objective on shares of Valero Energy in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.65.
Get Our Latest Stock Analysis on Valero Energy
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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