State Street Corp reduced its position in shares of Valero Energy Co. (NYSE:VLO) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,059,653 shares of the oil and gas company’s stock after selling 446,920 shares during the quarter. State Street Corp owned 5.90% of Valero Energy worth $1,042,264,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Valero Energy by 4.2% during the third quarter. BlackRock Inc. now owns 34,691,598 shares of the oil and gas company’s stock worth $1,502,839,000 after acquiring an additional 1,394,785 shares in the last quarter. FMR LLC raised its position in Valero Energy by 5.2% during the second quarter. FMR LLC now owns 10,010,645 shares of the oil and gas company’s stock worth $588,827,000 after acquiring an additional 491,203 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Valero Energy by 33.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,881,291 shares of the oil and gas company’s stock worth $345,938,000 after acquiring an additional 1,468,690 shares in the last quarter. Nuveen Asset Management LLC raised its position in Valero Energy by 64.5% during the second quarter. Nuveen Asset Management LLC now owns 5,868,816 shares of the oil and gas company’s stock worth $345,204,000 after acquiring an additional 2,301,509 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Valero Energy by 89.8% during the second quarter. Nordea Investment Management AB now owns 2,398,120 shares of the oil and gas company’s stock worth $134,270,000 after acquiring an additional 1,134,670 shares in the last quarter. 73.55% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on VLO. Morgan Stanley decreased their price objective on shares of Valero Energy from $68.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. ValuEngine upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 22nd. Barclays decreased their price objective on shares of Valero Energy from $71.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. CSFB restated a “buy” rating on shares of Valero Energy in a research note on Wednesday, September 30th. Finally, Piper Sandler decreased their price target on shares of Valero Energy from $78.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.36.
VLO stock opened at $50.82 on Friday. The stock has a market capitalization of $20.72 billion, a P/E ratio of 19.62 and a beta of 1.89. The company has a current ratio of 1.75, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. Valero Energy Co. has a 12 month low of $31.00 and a 12 month high of $99.72. The firm has a 50-day moving average price of $42.87 and a 200-day moving average price of $53.52.
Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 22nd. The oil and gas company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.19. The firm had revenue of $15.81 billion during the quarter, compared to analysts’ expectations of $14.79 billion. Valero Energy had a net margin of 1.22% and a return on equity of 5.30%. The business’s revenue for the quarter was down 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, equities analysts predict that Valero Energy Co. will post -3.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Wednesday, November 18th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.92 dividend on an annualized basis and a yield of 7.71%. Valero Energy’s dividend payout ratio (DPR) is presently 68.77%.
Valero Energy Profile
Valero Energy Corporation manufactures and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and Renewable Diesel. The company is involved in oil and gas refining, marketing, and bulk selling activities.
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