Primecap Management Co. CA Reduces Stock Position in Valero Energy Co. (NYSE:VLO)

Primecap Management Co. CA trimmed its position in Valero Energy Co. (NYSE:VLO) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,270 shares of the oil and gas company’s stock after selling 32,600 shares during the period. Primecap Management Co. CA’s holdings in Valero Energy were worth $13,150,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Valero Energy by 4,908.0% during the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after buying an additional 2,793,607 shares during the period. Raymond James Financial Inc. acquired a new position in Valero Energy in the 4th quarter valued at $132,469,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake 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 period. Pacer Advisors Inc. boosted its holdings in shares of Valero Energy by 18.8% during the third quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after purchasing an additional 567,059 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Valero Energy in the third quarter valued at $70,352,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

NYSE:VLO opened at $133.89 on Thursday. The firm’s fifty day simple moving average is $133.68 and its 200 day simple moving average is $133.58. 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 Co. has a twelve month low of $116.84 and a twelve month high of $184.79. The firm has a market capitalization of $42.17 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were given a $1.13 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date was Thursday, January 30th. This represents a $4.52 annualized dividend and a yield of 3.38%. Valero Energy’s dividend payout ratio (DPR) is 53.30%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Mizuho cut their price objective 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. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler cut their price target on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.08.

Valero Energy 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.