Fiduciary Trust Co Trims Stock Position in Valero Energy Co. (NYSE:VLO)

Fiduciary Trust Co decreased its position in Valero Energy Co. (NYSE:VLO) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,489 shares of the oil and gas company’s stock after selling 2,766 shares during the period. Fiduciary Trust Co’s holdings in Valero Energy were worth $7,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VLO. FORA Capital LLC purchased a new position in Valero Energy in the third quarter worth approximately $1,102,000. CreativeOne Wealth LLC grew its holdings in shares of Valero Energy by 67.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,724 shares of the oil and gas company’s stock worth $1,313,000 after purchasing an additional 3,934 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Valero Energy by 900.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock worth $85,217,000 after purchasing an additional 568,000 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Valero Energy by 0.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 45,505 shares of the oil and gas company’s stock valued at $6,145,000 after buying an additional 134 shares during the period. Finally, Cynosure Group LLC boosted its stake in Valero Energy by 9.2% during the third quarter. Cynosure Group LLC now owns 2,741 shares of the oil and gas company’s stock worth $370,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Trading Down 0.9 %

Shares of Valero Energy stock opened at $138.56 on Friday. The company has a fifty day simple moving average of $136.83 and a 200-day simple moving average of $145.47. The stock has a market cap of $43.87 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.59 and a beta of 1.39. Valero Energy Co. has a 12-month low of $120.21 and a 12-month high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.49 EPS. On average, equities analysts forecast that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.09%. Valero Energy’s payout ratio is 38.39%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VLO. Citigroup reduced their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. BMO Capital Markets decreased their price target on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Scotiabank dropped their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $172.00 to $165.00 in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

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.