Bank of Nova Scotia Trust Co. Trims Stake in Valero Energy Co. (NYSE:VLO)

Bank of Nova Scotia Trust Co. reduced its position in Valero Energy Co. (NYSE:VLO) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,150 shares of the oil and gas company’s stock after selling 2,300 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in Valero Energy were worth $877,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in Valero Energy in the 4th quarter valued at $25,000. Tobam bought a new position in shares of Valero Energy in the fourth quarter worth about $30,000. OFI Invest Asset Management purchased a new position in Valero Energy in the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in Valero Energy during the 4th quarter valued at about $38,000. Finally, Creative Capital Management Investments LLC boosted its position in Valero Energy by 122.0% in the 4th quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Raymond James cut their price target on Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company cut their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Scotiabank dropped their price objective on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler reduced their price objective on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.46.

Valero Energy Stock Performance

Shares of VLO opened at $109.98 on Friday. Valero Energy Co. has a 12 month low of $99.00 and a 12 month high of $168.85. The stock has a fifty day moving average price of $125.26 and a 200-day moving average price of $130.83. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm has a market cap of $34.64 billion, a PE ratio of 12.97, a P/E/G ratio of 2.93 and a beta of 1.17.

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

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.