Truist Financial Corp Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Truist Financial Corp reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 9.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 161,509 shares of the oil and gas company’s stock after selling 17,610 shares during the period. Truist Financial Corp’s holdings in Valero Energy were worth $20,996,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC acquired a new position in Valero Energy during the 3rd quarter worth $383,000. Atlantic Union Bankshares Corp acquired a new position in shares of Valero Energy during the third quarter worth about $1,209,000. Commonwealth Equity Services LLC raised its holdings in Valero Energy by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 269,543 shares of the oil and gas company’s stock valued at $38,197,000 after acquiring an additional 8,081 shares in the last quarter. Vicus Capital grew its holdings in Valero Energy by 7.9% during the 3rd quarter. Vicus Capital now owns 4,096 shares of the oil and gas company’s stock worth $580,000 after acquiring an additional 301 shares in the last quarter. Finally, Aua Capital Management LLC increased its position in shares of Valero Energy by 19.9% in the 3rd quarter. Aua Capital Management LLC now owns 2,194 shares of the oil and gas company’s stock valued at $311,000 after purchasing an additional 364 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on VLO. The Goldman Sachs Group lifted their price objective on shares of Valero Energy from $130.00 to $171.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Valero Energy from $177.00 to $178.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Citigroup increased their price target on shares of Valero Energy from $160.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Mizuho lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $150.00 to $173.00 in a research report on Friday, March 22nd. Finally, Barclays lifted their target price on shares of Valero Energy from $149.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Valero Energy presently has a consensus rating of “Moderate Buy” and an average target price of $174.80.

Valero Energy Stock Performance

Shares of VLO opened at $167.53 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 52-week low of $104.18 and a 52-week high of $184.79. The company has a 50-day simple moving average of $161.63 and a 200-day simple moving average of $141.05. The company has a market capitalization of $55.70 billion, a PE ratio of 8.30, a P/E/G ratio of 1.50 and a beta of 1.54.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.64. The company had revenue of $31.76 billion during the quarter, compared to the consensus estimate of $32.02 billion. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the firm earned $8.27 EPS. Equities research analysts predict that Valero Energy Co. will post 18.37 earnings per share for the current fiscal year.

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.