Valero Energy Co. (NYSE:VLO) Stake Lowered by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its holdings in Valero Energy Co. (NYSE:VLO) by 83.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,387 shares of the oil and gas company’s stock after selling 11,910 shares during the quarter. iA Global Asset Management Inc.’s holdings in Valero Energy were worth $293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in Valero Energy in the 4th quarter worth approximately $25,000. Tobam bought a new position in Valero Energy in the 4th quarter worth approximately $30,000. True Wealth Design LLC grew 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 worth $37,000 after buying an additional 183 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Valero Energy in the 4th quarter worth approximately $38,000. Finally, OFI Invest Asset Management bought a new position in Valero Energy in the 4th quarter worth approximately $37,000. 78.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler decreased their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Mizuho decreased their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $156.08.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $131.42 on Friday. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The stock has a fifty day moving average of $133.96 and a 200-day moving average of $133.43. The company has a market capitalization of $41.39 billion, a PE ratio of 15.50, 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 quick ratio of 1.11 and a current ratio of 1.57.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, equities analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is 53.30%.

Valero Energy Company 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.