OLD Republic International Corp trimmed its position in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 52.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,500 shares of the oil and gas company’s stock after selling 318,000 shares during the quarter. OLD Republic International Corp owned 0.07% of Valero Energy worth $30,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parsons Capital Management Inc. RI lifted its holdings in shares of Valero Energy by 2.2% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 5,231 shares of the oil and gas company’s stock valued at $559,000 after buying an additional 115 shares during the period. Avantax Advisory Services Inc. raised its holdings in Valero Energy by 13.8% in the 3rd quarter. Avantax Advisory Services Inc. now owns 22,091 shares of the oil and gas company’s stock worth $2,360,000 after purchasing an additional 2,682 shares during the period. MidWestOne Financial Group Inc. raised its holdings in Valero Energy by 262.5% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 8,982 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 6,504 shares during the period. Canada Pension Plan Investment Board raised its holdings in Valero Energy by 29.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 276,830 shares of the oil and gas company’s stock worth $29,579,000 after purchasing an additional 63,800 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Valero Energy by 1.3% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,119 shares of the oil and gas company’s stock worth $1,509,000 after purchasing an additional 176 shares during the period. 79.28% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on VLO. Piper Sandler decreased their target price on Valero Energy from $177.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Raymond James raised their target price on Valero Energy from $169.00 to $174.00 and gave the stock a “strong-buy” rating in a report on Monday, January 30th. Wells Fargo & Company increased their price target on Valero Energy from $140.00 to $160.00 in a research note on Friday, January 27th. Mizuho increased their price target on Valero Energy from $157.00 to $170.00 in a research note on Friday, March 10th. Finally, UBS Group assumed coverage on Valero Energy in a research note on Wednesday, March 8th. They issued a “buy” rating and a $176.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $151.38.
Valero Energy Trading Down 5.5 %
Valero Energy (NYSE:VLO – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The oil and gas company reported $8.45 EPS for the quarter, topping the consensus estimate of $7.45 by $1.00. The company had revenue of $41.75 billion during the quarter, compared to analyst estimates of $43.31 billion. Valero Energy had a return on equity of 50.15% and a net margin of 6.54%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $2.47 earnings per share. Equities research analysts anticipate that Valero Energy Co. will post 24.37 EPS for the current fiscal year.
Valero Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Tuesday, February 14th will be given a $1.02 dividend. The ex-dividend date of this dividend is Monday, February 13th. This represents a $4.08 annualized dividend and a yield of 3.28%. This is a positive change from Valero Energy’s previous quarterly dividend of $0.98. Valero Energy’s dividend payout ratio (DPR) is currently 14.01%.
Valero Energy Profile
Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment consists of refining operations, associated marketing activities, and logistics assets that support its refining operations.
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