Field & Main Bank lowered its stake in Valero Energy Co. (NYSE:VLO) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,615 shares of the oil and gas company’s stock after selling 210 shares during the quarter. Field & Main Bank’s holdings in Valero Energy were worth $608,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Valero Energy by 0.7% in the second quarter. Vanguard Group Inc. now owns 46,111,060 shares of the oil and gas company’s stock valued at $3,600,351,000 after purchasing an additional 314,695 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Valero Energy by 5.7% during the second quarter. BlackRock Inc. now owns 37,668,654 shares of the oil and gas company’s stock valued at $2,941,168,000 after acquiring an additional 2,035,454 shares in the last quarter. State Street Corp raised its holdings in shares of Valero Energy by 2.4% during the second quarter. State Street Corp now owns 28,316,609 shares of the oil and gas company’s stock valued at $2,210,961,000 after acquiring an additional 669,078 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Valero Energy by 17.6% during the second quarter. Geode Capital Management LLC now owns 7,044,978 shares of the oil and gas company’s stock valued at $548,502,000 after acquiring an additional 1,052,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Valero Energy by 11.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,251,902 shares of the oil and gas company’s stock valued at $488,149,000 after acquiring an additional 642,620 shares in the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.
Shares of NYSE VLO traded up $0.40 during trading on Thursday, reaching $72.95. The company had a trading volume of 3,631,542 shares, compared to its average volume of 3,905,774. Valero Energy Co. has a 12-month low of $51.90 and a 12-month high of $84.95. The stock has a market cap of $29.82 billion, a PE ratio of -66.93, a P/E/G ratio of 13.77 and a beta of 2.09. The business’s 50-day moving average is $74.90 and its 200 day moving average is $73.12. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 9th. Stockholders of record on Thursday, November 18th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, November 17th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 5.37%. Valero Energy’s dividend payout ratio is currently -359.63%.
In other news, CEO Joseph W. Gorder sold 26,750 shares of the stock in a transaction on Monday, October 25th. The stock was sold at an average price of $82.33, for a total value of $2,202,327.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.
A number of equities analysts recently commented on VLO shares. Zacks Investment Research upgraded Valero Energy from a “sell” rating to a “hold” rating and set a $69.00 target price for the company in a report on Wednesday, September 8th. Morgan Stanley started coverage on Valero Energy in a report on Tuesday, September 7th. They set an “overweight” rating and a $80.00 target price for the company. Argus upped their target price on Valero Energy from $83.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, October 26th. Raymond James upped their price target on Valero Energy from $88.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 22nd. Finally, Piper Sandler reduced their price target on Valero Energy from $81.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, September 16th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $88.71.
Valero Energy Profile
Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations.
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