Valero Energy Co. (NYSE:VLO) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 31.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,533 shares of the oil and gas company’s stock after selling 284,014 shares during the quarter. Bank of Montreal Can’s holdings in Valero Energy were worth $85,054,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in VLO. EdgeRock Capital LLC acquired a new position in Valero Energy in the 2nd quarter worth approximately $27,000. Peterson Financial Group Inc. acquired a new position in Valero Energy during the third quarter valued at $28,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the second quarter valued at $29,000. Summit Securities Group LLC acquired a new stake in Valero Energy during the 2nd quarter worth about $31,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Valero Energy during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup decreased their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Scotiabank lowered their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen dropped their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group reduced their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $172.00 to $165.00 in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, four 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, Valero Energy has an average rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Stock Performance

NYSE:VLO opened at $139.82 on Wednesday. The company’s 50-day moving average is $136.79 and its two-hundred day moving average is $145.56. Valero Energy Co. has a 1-year low of $120.21 and a 1-year high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The firm has a market capitalization of $44.26 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.61 and a beta of 1.39.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. During the same period in the prior year, the business posted $7.49 earnings per share. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. Analysts forecast that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.06%. Valero Energy’s dividend payout ratio is currently 38.39%.

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.