CIBC Asset Management Inc Trims Stake in Valero Energy Co. (NYSE:VLO)

CIBC Asset Management Inc cut its position in shares of Valero Energy Co. (NYSE:VLO) by 10.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,830 shares of the oil and gas company’s stock after selling 6,386 shares during the quarter. CIBC Asset Management Inc’s holdings in Valero Energy were worth $6,476,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Valero Energy during the fourth quarter valued at approximately $25,000. Peterson Financial Group Inc. bought a new stake in shares of Valero Energy during the 3rd quarter worth approximately $28,000. Tobam purchased a new position in Valero Energy during the 4th quarter valued at $30,000. True Wealth Design LLC grew its position 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 valued at $37,000 after acquiring an additional 183 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Valero Energy in the third quarter worth $38,000. 78.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on VLO. Wells Fargo & Company cut 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. Barclays reduced their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Mizuho lowered their target price 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 research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Stock Performance

VLO stock opened at $137.06 on Thursday. The firm has a 50-day simple moving average of $130.76 and a two-hundred day simple moving average of $135.94. 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 Co. has a one year low of $116.84 and a one year high of $184.79. The firm has a market cap of $43.39 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.85 and a beta of 1.42.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (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, equities analysts forecast that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be paid a $1.13 dividend. The ex-dividend date is Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a yield of 3.30%. 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.