Victory Capital Management Inc. cut its position in shares of Valero Energy Co. (NYSE:VLO) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,226,829 shares of the oil and gas company’s stock after selling 188,074 shares during the quarter. Victory Capital Management Inc. owned 0.79% of Valero Energy worth $139,787,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Valero Energy by 4.2% in the third quarter. BlackRock Inc. now owns 34,691,598 shares of the oil and gas company’s stock valued at $1,502,839,000 after buying an additional 1,394,785 shares during the last quarter. FMR LLC boosted its position in Valero Energy by 5.2% during the 2nd 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 during the period. Charles Schwab Investment Management Inc. boosted its position in Valero Energy by 33.3% during the 2nd 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 during the period. Nuveen Asset Management LLC lifted its holdings in shares of Valero Energy by 64.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,868,816 shares of the oil and gas company’s stock valued at $345,204,000 after buying an additional 2,301,509 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Valero Energy by 89.8% during the 2nd quarter. Nordea Investment Management AB now owns 2,398,120 shares of the oil and gas company’s stock valued at $134,270,000 after buying an additional 1,134,670 shares during the last quarter. Hedge funds and other institutional investors own 73.55% of the company’s stock.
Shares of NYSE:VLO traded down $3.11 during mid-day trading on Tuesday, reaching $52.56. 78,863 shares of the stock were exchanged, compared to its average volume of 5,056,919. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.59. The company has a market cap of $22.70 billion, a P/E ratio of 21.49 and a beta of 1.89. Valero Energy Co. has a one year low of $31.00 and a one year high of $101.11. The stock’s 50 day simple moving average is $42.14 and its 200-day simple moving average is $53.69.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.19. Valero Energy had a return on equity of 5.30% and a net margin of 1.22%. The firm had revenue of $15.81 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was down 42.0% compared to the same quarter last year. Analysts anticipate that Valero Energy Co. will post -3.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Wednesday, November 18th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.92 annualized dividend and a yield of 7.46%. Valero Energy’s dividend payout ratio (DPR) is presently 68.77%.
VLO has been the subject of several analyst reports. CSFB restated a “buy” rating on shares of Valero Energy in a report on Wednesday, September 30th. Piper Sandler lowered their price objective on Valero Energy from $78.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday. Credit Suisse Group restated a “buy” rating on shares of Valero Energy in a research report on Wednesday, September 30th. Jefferies Financial Group upgraded Valero Energy from a “hold” rating to a “buy” rating and lowered their price target for the company from $65.00 to $62.00 in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. lowered their price target on Valero Energy from $68.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.71.
Valero Energy Company 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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