Summit Financial LLC Decreases Stake in Valero Energy Co. (NYSE:VLO)

Summit Financial LLC lessened its stake in shares of Valero Energy Co. (NYSE:VLO) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,733 shares of the oil and gas company’s stock after selling 336 shares during the period. Summit Financial LLC’s holdings in Valero Energy were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VLO. Benjamin Edwards Inc. acquired a new stake in Valero Energy during the 3rd quarter worth about $1,886,000. Hilltop Holdings Inc. lifted its holdings in shares of Valero Energy by 8.5% during the third quarter. Hilltop Holdings Inc. now owns 2,179 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 171 shares during the period. IHT Wealth Management LLC boosted its position in Valero Energy by 6.3% in the third quarter. IHT Wealth Management LLC now owns 7,699 shares of the oil and gas company’s stock valued at $1,043,000 after buying an additional 453 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in Valero Energy by 0.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 438,949 shares of the oil and gas company’s stock worth $59,271,000 after buying an additional 4,088 shares during the period. Finally, Quarry LP purchased a new position in Valero Energy during the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Down 8.4 %

Valero Energy stock opened at $104.64 on Friday. Valero Energy Co. has a 12 month low of $102.60 and a 12 month high of $184.79. The stock has a market capitalization of $32.96 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The business has a 50 day simple moving average of $131.94 and a 200-day simple moving average of $132.97.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. On average, analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were paid a $1.13 dividend. The ex-dividend date was Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a yield of 4.32%. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

Analyst Upgrades and Downgrades

VLO has been the topic of several recent research reports. Mizuho dropped their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lowered their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $152.67.

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.