Cinctive Capital Management LP Decreases Stake in Valero Energy Co. (NYSE:VLO)

Cinctive Capital Management LP lessened its holdings in shares of Valero Energy Co. (NYSE:VLO) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,947 shares of the oil and gas company’s stock after selling 3,112 shares during the period. Cinctive Capital Management LP’s holdings in Valero Energy were worth $12,416,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Valero Energy by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock valued at $1,389,090,000 after purchasing an additional 50,837 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Valero Energy by 2.8% during the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock worth $1,090,532,000 after buying an additional 192,397 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Valero Energy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after acquiring an additional 237,347 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after acquiring an additional 567,059 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Valero Energy by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock worth $440,394,000 after acquiring an additional 82,539 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of VLO opened at $139.08 on Monday. The company has a market cap of $44.03 billion, a P/E ratio of 12.47, a PEG ratio of 2.60 and a beta of 1.40. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $136.92 and its 200 day moving average price is $145.19.

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

Valero Energy Announces Dividend

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 paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is presently 38.39%.

Wall Street Analyst Weigh In

VLO has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Bank of America assumed coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. Mizuho reduced their price target on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. The Goldman Sachs Group lowered their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research report on Monday, September 16th. Finally, Citigroup reduced their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Valero Energy presently has a consensus rating of “Moderate Buy” and an average target price 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.