NEOS Investment Management LLC Increases Stock Holdings in Valero Energy Co. (NYSE:VLO)

NEOS Investment Management LLC lifted its stake in shares of Valero Energy Co. (NYSE:VLO) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,714 shares of the oil and gas company’s stock after purchasing an additional 4,978 shares during the quarter. NEOS Investment Management LLC’s holdings in Valero Energy were worth $2,539,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of VLO. New Wave Wealth Advisors LLC acquired a new stake in shares of Valero Energy in the 4th quarter worth $25,000. Tobam acquired a new stake in Valero Energy in the fourth quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Valero Energy during the 4th quarter worth approximately $38,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $37,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Down 1.4 %

VLO opened at $131.43 on Friday. The firm has a market cap of $41.40 billion, a P/E ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36. The business’s fifty day simple moving average is $133.49 and its 200 day simple moving average is $133.33. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. 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 released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, equities research analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.44%. Valero Energy’s dividend payout ratio is 53.30%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VLO shares. Piper Sandler cut their price objective on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Mizuho reduced their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target of $152.67.

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.