Meiji Yasuda Asset Management Co Ltd. Cuts Stake in Valero Energy Co. (NYSE:VLO)

Meiji Yasuda Asset Management Co Ltd. trimmed its stake in Valero Energy Co. (NYSE:VLO) by 51.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,443 shares of the oil and gas company’s stock after selling 5,717 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Valero Energy were worth $667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Valero Energy during the 4th quarter valued at $25,000. Tobam acquired a new position in Valero Energy in the fourth quarter valued at $30,000. True Wealth Design LLC grew its position 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 valued at $37,000 after acquiring an additional 183 shares during the period. OFI Invest Asset Management acquired a new stake in Valero Energy during the fourth quarter worth about $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Valero Energy in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Mizuho reduced their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler lowered their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.67.

Valero Energy Stock Down 1.0 %

Shares of Valero Energy stock opened at $133.14 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The business has a 50-day moving average of $133.68 and a 200-day moving average of $133.35. The company has a market capitalization of $41.94 billion, a PE ratio of 15.70, a P/E/G ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data 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 return on equity of 9.58% and a net margin of 2.13%. As a group, equities analysts forecast that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.39%. 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. Valero Energy’s dividend payout ratio is 53.30%.

About Valero Energy

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.