OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in Valero Energy Co. (NYSE:VLO)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Valero Energy Co. (NYSE:VLO) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,758 shares of the oil and gas company’s stock after selling 4,976 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Valero Energy were worth $619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of Valero Energy by 5.8% during the 3rd quarter. Deutsche Bank AG now owns 1,005,346 shares of the oil and gas company’s stock valued at $142,468,000 after buying an additional 55,351 shares during the last quarter. Stiles Financial Services Inc raised its stake in shares of Valero Energy by 49.7% during the 4th quarter. Stiles Financial Services Inc now owns 7,615 shares of the oil and gas company’s stock valued at $991,000 after buying an additional 2,529 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Valero Energy by 14.0% during the 4th quarter. Pacer Advisors Inc. now owns 2,788,994 shares of the oil and gas company’s stock valued at $362,569,000 after buying an additional 342,218 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Valero Energy by 3.0% during the 4th quarter. Nordea Investment Management AB now owns 645,726 shares of the oil and gas company’s stock valued at $83,867,000 after buying an additional 18,575 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Valero Energy by 10.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 83,290 shares of the oil and gas company’s stock valued at $11,803,000 after buying an additional 7,910 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Up 0.9 %

Valero Energy stock opened at $163.89 on Monday. Valero Energy Co. has a twelve month low of $104.18 and a twelve month high of $184.79. The stock’s fifty day simple moving average is $158.54 and its 200-day simple moving average is $139.40. The company has a current ratio of 1.56, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $54.49 billion, a P/E ratio of 6.63, a P/E/G ratio of 1.50 and a beta of 1.54.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.60. The firm had revenue of $35.41 billion during the quarter, compared to analysts’ expectations of $34.76 billion. Valero Energy had a net margin of 6.10% and a return on equity of 31.62%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $8.45 earnings per share. As a group, equities analysts expect that Valero Energy Co. will post 18.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VLO. JPMorgan Chase & Co. raised their target price on Valero Energy from $177.00 to $178.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Mizuho cut Valero Energy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $150.00 to $173.00 in a report on Friday, March 22nd. Citigroup lifted their price objective on Valero Energy from $160.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $156.00 to $210.00 in a report on Friday, March 15th. Finally, Scotiabank boosted their target price on Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.63.

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.