Vestcor Inc Has $5.51 Million Stake in Valero Energy Corporation $VLO

Vestcor Inc lowered its stake in Valero Energy Corporation (NYSE:VLO) by 75.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,343 shares of the oil and gas company’s stock after selling 100,539 shares during the quarter. Vestcor Inc’s holdings in Valero Energy were worth $5,507,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Valero Energy in the second quarter worth $827,390,000. Geode Capital Management LLC raised its holdings in shares of Valero Energy by 16.7% during the second quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company’s stock valued at $1,089,897,000 after purchasing an additional 1,164,217 shares during the period. American Century Companies Inc. boosted its position in shares of Valero Energy by 162.5% during the 2nd quarter. American Century Companies Inc. now owns 523,692 shares of the oil and gas company’s stock worth $70,395,000 after purchasing an additional 324,174 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Valero Energy by 2.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company’s stock worth $1,576,035,000 after purchasing an additional 286,942 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Valero Energy by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,706,187 shares of the oil and gas company’s stock valued at $286,076,000 after buying an additional 256,373 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Argus raised Valero Energy to a “hold” rating in a research report on Monday, February 2nd. Zacks Research lowered Valero Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Piper Sandler raised their price objective on Valero Energy from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wall Street Zen upgraded Valero Energy from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Barclays increased their target price on Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.67.

Valero Energy Trading Down 3.9%

VLO opened at $215.96 on Tuesday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $232.99. The firm has a market capitalization of $64.58 billion, a PE ratio of 28.27, a P/E/G ratio of 1.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.64 and a quick ratio of 1.11. The company’s 50-day moving average is $192.66 and its 200 day moving average is $175.73.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.55. The business had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Thursday, February 5th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, February 5th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 2.2%. Valero Energy’s payout ratio is presently 62.83%.

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.