Narwhal Capital Management Has $5.84 Million Stake in Valero Energy Co. (NYSE:VLO)

Narwhal Capital Management lowered its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 47,599 shares of the oil and gas company’s stock after selling 1,705 shares during the quarter. Narwhal Capital Management’s holdings in Valero Energy were worth $5,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. bought a new position in shares of Valero Energy in the third quarter worth $28,000. Compagnie Lombard Odier SCmA bought a new position in Valero Energy in the 3rd quarter valued at about $34,000. True Wealth Design LLC increased its holdings in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 183 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Valero Energy during the 3rd quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Valero Energy during the 3rd quarter worth approximately $50,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Scotiabank lowered their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America started coverage on shares of Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.54.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $139.80 on Monday. The company has a market cap of $44.26 billion, a P/E ratio of 12.54, a PEG ratio of 2.81 and a beta of 1.42. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $131.28 and a two-hundred day moving average price of $137.87. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter last year, the firm posted $7.49 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. As a group, analysts anticipate that Valero Energy Co. will post 7.93 EPS for the current year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be paid a $1.13 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.52 annualized dividend and a dividend yield of 3.23%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s payout ratio is currently 38.39%.

Valero Energy Profile

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.