Nordea Investment Management AB reduced its position in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365,590 shares of the oil and gas company’s stock after selling 23,899 shares during the period. Nordea Investment Management AB owned 0.09% of Valero Energy worth $37,272,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amplius Wealth Advisors LLC bought a new position in shares of Valero Energy during the fourth quarter valued at about $25,000. Earnest Partners LLC lifted its position in shares of Valero Energy by 76.3% during the fourth quarter. Earnest Partners LLC now owns 349 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 151 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Valero Energy during the fourth quarter valued at about $27,000. Allegheny Financial Group LTD bought a new stake in Valero Energy in the fourth quarter worth about $28,000. Finally, West Oak Capital LLC bought a new stake in Valero Energy in the fourth quarter worth about $30,000. 77.56% of the stock is currently owned by institutional investors.
Shares of NYSE:VLO opened at $113.13 on Thursday. The company has a 50 day moving average of $122.34 and a 200 day moving average of $97.91. The stock has a market cap of $46.17 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.12 and a beta of 1.77. Valero Energy Co. has a 12 month low of $58.85 and a 12 month high of $146.80. The company has a current ratio of 1.18, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 7th. Investors of record on Thursday, May 12th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $3.92 annualized dividend and a yield of 3.47%. Valero Energy’s dividend payout ratio is currently 63.33%.
In other Valero Energy news, COO R. Lane Riggs sold 17,767 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $131.53, for a total value of $2,336,893.51. Following the completion of the transaction, the chief operating officer now owns 254,905 shares of the company’s stock, valued at approximately $33,527,654.65. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by insiders.
Several analysts have commented on VLO shares. Credit Suisse Group lifted their price objective on shares of Valero Energy to $145.00 in a research report on Thursday, June 9th. Citigroup lifted their price objective on shares of Valero Energy from $94.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Redburn Partners lowered shares of Valero Energy from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 1st. Morgan Stanley lifted their price objective on shares of Valero Energy from $100.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, April 18th. Finally, Cowen lifted their price objective on shares of Valero Energy from $106.00 to $116.00 in a research report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus target price of $128.46.
Valero Energy Company Profile (Get Rating)
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.
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