Summit Global Investments Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Summit Global Investments trimmed its position in Valero Energy Co. (NYSE:VLO) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,908 shares of the oil and gas company’s stock after selling 303 shares during the period. Summit Global Investments’ holdings in Valero Energy were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VLO. Wellington Management Group LLP boosted its holdings in shares of Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after acquiring an additional 2,793,607 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Valero Energy in the 4th quarter valued at approximately $132,469,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Valero Energy by 900.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock valued at $85,217,000 after purchasing an additional 568,000 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Valero Energy in the 3rd quarter valued at approximately $70,352,000. Finally, Pacer Advisors Inc. boosted its holdings in Valero Energy by 13.6% in the 4th quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock valued at $499,210,000 after purchasing an additional 487,022 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO stock opened at $131.42 on Monday. Valero Energy Co. has a 1 year low of $116.84 and a 1 year high of $184.79. 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 moving average price is $133.96 and its 200 day moving average price is $133.38. The firm has a market cap of $41.39 billion, a P/E ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.44%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, January 30th. Valero Energy’s dividend payout ratio is 53.30%.

Analyst Ratings Changes

A number of research firms recently weighed in on VLO. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Mizuho decreased their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler decreased their target price on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.08.

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.