NewEdge Wealth LLC trimmed its position in shares of Valero Energy Co. (NYSE:VLO – Free Report) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,906 shares of the oil and gas company’s stock after selling 182 shares during the period. NewEdge Wealth LLC’s holdings in Valero Energy were worth $412,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its stake in shares of Valero Energy by 1.9% in the 1st quarter. Blair William & Co. IL now owns 33,427 shares of the oil and gas company’s stock valued at $3,394,000 after purchasing an additional 632 shares during the last quarter. Sei Investments Co. lifted its position in Valero Energy by 21.7% during the 1st quarter. Sei Investments Co. now owns 100,006 shares of the oil and gas company’s stock worth $10,163,000 after acquiring an additional 17,844 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Valero Energy by 12.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 60,730 shares of the oil and gas company’s stock worth $6,167,000 after acquiring an additional 6,735 shares during the last quarter. Prudential PLC acquired a new position in Valero Energy during the 1st quarter worth $1,253,000. Finally, Moors & Cabot Inc. lifted its position in Valero Energy by 21.0% during the 1st quarter. Moors & Cabot Inc. now owns 6,780 shares of the oil and gas company’s stock worth $688,000 after acquiring an additional 1,179 shares during the last quarter. 77.07% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy Price Performance
Shares of Valero Energy stock opened at $141.80 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $48.28 billion, a price-to-earnings ratio of 5.73, a P/E/G ratio of 1.62 and a beta of 1.53. Valero Energy Co. has a 1-year low of $104.18 and a 1-year high of $152.20. The firm’s 50-day moving average price is $130.90 and its two-hundred day moving average price is $131.16.
Valero Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Thursday, February 1st will be paid a dividend of $1.07 per share. This is a boost from Valero Energy’s previous quarterly dividend of $1.02. This represents a $4.28 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, January 31st. Valero Energy’s dividend payout ratio is 17.31%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on VLO. Barclays boosted their target price on shares of Valero Energy from $146.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Citigroup initiated coverage on shares of Valero Energy in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Tudor, Pickering, Holt & Co. lowered shares of Valero Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $150.00 to $130.00 in a research report on Monday, October 30th. Finally, Raymond James upped their price objective on shares of Valero Energy from $154.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.62.
Valero Energy Profile
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, and asphalt; aromatics; and sulfur crude oils.
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