Man Group plc Sells 16,712 Shares of Valero Energy Co. (NYSE:VLO)

Man Group plc cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,237 shares of the oil and gas company’s stock after selling 16,712 shares during the period. Man Group plc’s holdings in Valero Energy were worth $6,281,000 at the end of the most recent reporting period.

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

Valero Energy Trading Down 1.6%

Shares of NYSE:VLO opened at $132.20 on Wednesday. The stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.93 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The stock’s 50-day simple moving average is $121.39 and its two-hundred day simple moving average is $128.63. Valero Energy Co. has a 52-week low of $99.00 and a 52-week high of $167.78.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. The firm had revenue of $28.76 billion during the quarter, compared to analysts’ expectations of $28.54 billion. During the same period in the previous year, the business posted $3.82 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts expect that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.42%. Valero Energy’s payout ratio is currently 159.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on VLO shares. TD Cowen cut their target price on Valero Energy from $121.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Piper Sandler cut their target price on Valero Energy from $144.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Wells Fargo & Company cut their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Mizuho upped their target price on Valero Energy from $158.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. Finally, UBS Group dropped their price objective on Valero Energy from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $151.93.

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.