abrdn plc Trims Stock Position in Valero Energy Co. (NYSE:VLO)

abrdn plc trimmed its holdings in shares of Valero Energy Co. (NYSE:VLO) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,849 shares of the oil and gas company’s stock after selling 15,018 shares during the period. abrdn plc owned about 0.13% of Valero Energy worth $50,582,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Czech National Bank lifted its position in shares of Valero Energy by 4.7% in the third quarter. Czech National Bank now owns 65,264 shares of the oil and gas company’s stock valued at $8,813,000 after acquiring an additional 2,951 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Valero Energy by 6.5% during the third quarter. GAMMA Investing LLC now owns 9,348 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 567 shares during the last quarter. Greenfield Savings Bank increased its position in Valero Energy by 4.3% during the 3rd quarter. Greenfield Savings Bank now owns 9,721 shares of the oil and gas company’s stock worth $1,313,000 after purchasing an additional 404 shares in the last quarter. MBM Wealth Consultants LLC lifted its holdings in Valero Energy by 7.5% in the 3rd quarter. MBM Wealth Consultants LLC now owns 10,873 shares of the oil and gas company’s stock valued at $1,468,000 after purchasing an additional 758 shares in the last quarter. Finally, FCF Advisors LLC purchased a new position in Valero Energy in the 3rd quarter valued at about $2,498,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Price Performance

VLO opened at $142.95 on Wednesday. The company has a 50 day moving average of $130.76 and a two-hundred day moving average of $137.35. Valero Energy Co. has a 52-week low of $116.84 and a 52-week high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The company has a market cap of $45.26 billion, a P/E ratio of 16.86, a P/E/G ratio of 2.67 and a beta of 1.42.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. On average, analysts expect that Valero Energy Co. will post 8.29 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.16%. Valero Energy’s payout ratio is 53.30%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup decreased their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company lowered their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Finally, Mizuho lowered their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.46.

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.