Red Cedar Investment Management LLC Decreases Position in Valero Energy Co. (NYSE:VLO)

Red Cedar Investment Management LLC cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 65.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,697 shares of the oil and gas company’s stock after selling 10,693 shares during the period. Red Cedar Investment Management LLC’s holdings in Valero Energy were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Valero Energy by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock valued at $1,389,090,000 after purchasing an additional 50,837 shares during the period. Franklin Resources Inc. raised its position in Valero Energy by 5.6% during the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock valued at $639,268,000 after purchasing an additional 247,630 shares during the period. Pacer Advisors Inc. raised its position in Valero Energy by 13.6% during the fourth quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock valued at $499,210,000 after purchasing an additional 487,022 shares during the period. Wellington Management Group LLP grew its stake in shares of Valero Energy by 4,908.0% during the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after buying an additional 2,793,607 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of Valero Energy by 6.3% during the third quarter. Montrusco Bolton Investments Inc. now owns 2,533,434 shares of the oil and gas company’s stock valued at $342,090,000 after buying an additional 151,200 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Stock Up 3.4 %

Valero Energy stock opened at $135.49 on Friday. The business has a fifty day moving average of $130.47 and a two-hundred day moving average of $136.67. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.89 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.85 and a beta of 1.42. Valero Energy Co. has a twelve month low of $116.84 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. On average, analysts forecast that Valero Energy Co. will post 7.86 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.52 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is currently 53.30%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup cut their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays cut their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company cut their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, TD Cowen cut their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Profile

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.