Valero Energy Corporation $VLO Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Valero Energy Corporation (NYSE:VLO) by 42.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,939 shares of the oil and gas company’s stock after selling 47,163 shares during the quarter. Jennison Associates LLC’s holdings in Valero Energy were worth $8,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoey Investments Inc. acquired a new position in shares of Valero Energy during the 2nd quarter worth $26,000. Wayfinding Financial LLC acquired a new position in shares of Valero Energy during the 1st quarter worth $26,000. GFG Capital LLC purchased a new stake in shares of Valero Energy in the 2nd quarter worth about $27,000. Hazlett Burt & Watson Inc. boosted its position in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after buying an additional 130 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Valero Energy in the 1st quarter worth about $43,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VLO has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Valero Energy from $200.00 to $201.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valero Energy in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Valero Energy in a research report on Friday, October 17th. They issued an “overweight” rating and a $216.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of Valero Energy from $181.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Barclays boosted their price objective on shares of Valero Energy from $151.00 to $169.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.

Valero Energy Price Performance

NYSE:VLO opened at $169.66 on Friday. The firm has a market cap of $52.70 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $162.06 and its two-hundred day moving average is $142.90. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. The company had revenue of $32.17 billion for the quarter, compared to analyst estimates of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 20th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, November 20th. Valero Energy’s dividend payout ratio is 94.36%.

Valero Energy Company 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.