Valero Energy Co. (NYSE:VLO) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its holdings in shares of Valero Energy Co. (NYSE:VLO) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 63,918 shares of the oil and gas company’s stock after buying an additional 2,061 shares during the period. DnB Asset Management AS’s holdings in Valero Energy were worth $7,836,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $25,000. Tobam purchased a new position in Valero Energy during the fourth quarter worth approximately $30,000. True Wealth Design LLC boosted its stake in Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after buying an additional 183 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Valero Energy in the 4th quarter valued at $38,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Valero Energy in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

VLO has been the subject of a number of analyst reports. Mizuho dropped their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler decreased their price objective on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $152.67.

Valero Energy Price Performance

VLO opened at $131.43 on Friday. The firm has a market cap of $41.40 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36. 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 stock’s 50-day moving average price is $133.49 and its 200 day moving average price is $133.31. Valero Energy Co. has a 12-month low of $116.84 and a 12-month high of $184.79.

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 (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, sell-side analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

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

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.