Sumitomo Mitsui Trust Holdings Inc. Sells 23,560 Shares of Valero Energy Co. (NYSE:VLO)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Valero Energy Co. (NYSE:VLO) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 905,042 shares of the oil and gas company’s stock after selling 23,560 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Valero Energy worth $117,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blair William & Co. IL grew its holdings in shares of Valero Energy by 1.9% during the first quarter. Blair William & Co. IL now owns 33,427 shares of the oil and gas company’s stock valued at $3,394,000 after buying an additional 632 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Valero Energy by 21.7% during the first quarter. Sei Investments Co. now owns 100,006 shares of the oil and gas company’s stock valued at $10,163,000 after buying an additional 17,844 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Valero Energy by 12.5% during the first quarter. Canada Pension Plan Investment Board now owns 60,730 shares of the oil and gas company’s stock valued at $6,167,000 after buying an additional 6,735 shares during the last quarter. Prudential PLC acquired a new position in shares of Valero Energy during the first quarter valued at about $1,253,000. Finally, Moors & Cabot Inc. grew its holdings in shares of Valero Energy by 21.0% during the first quarter. Moors & Cabot Inc. now owns 6,780 shares of the oil and gas company’s stock valued at $688,000 after buying an additional 1,179 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Performance

NYSE VLO opened at $169.00 on Wednesday. The company’s 50 day moving average is $157.18 and its 200-day moving average is $138.75. Valero Energy Co. has a 12-month low of $104.18 and a 12-month high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.56 and a debt-to-equity ratio of 0.35. The firm has a market cap of $56.19 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 1.65 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, beating the consensus estimate of $2.95 by $0.60. The company had revenue of $35.41 billion for the quarter, compared to analyst estimates of $34.76 billion. Valero Energy had a net margin of 6.10% and a return on equity of 31.62%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.45 earnings per share. Sell-side analysts predict that Valero Energy Co. will post 17.25 earnings per share for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Thursday, February 1st were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Wednesday, January 31st. This is a positive change from Valero Energy’s previous quarterly dividend of $1.02. Valero Energy’s dividend payout ratio is 17.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Valero Energy from $130.00 to $171.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Barclays boosted their price target on shares of Valero Energy from $149.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Bank of America upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $156.00 to $210.00 in a report on Friday, March 15th. Scotiabank boosted their price target on shares of Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Citigroup assumed coverage on shares of Valero Energy in a report on Wednesday, January 24th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $172.40.

Valero Energy 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.