Valero Energy Corporation $VLO Stock Position Decreased by SouthState Corp

SouthState Corp cut its stake in shares of Valero Energy Corporation (NYSE:VLO) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 117,094 shares of the oil and gas company’s stock after selling 2,947 shares during the quarter. SouthState Corp’s holdings in Valero Energy were worth $15,740,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kestra Private Wealth Services LLC grew its holdings in shares of Valero Energy by 18.5% during the first quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company’s stock valued at $2,959,000 after buying an additional 3,503 shares in the last quarter. Hancock Whitney Corp grew its holdings in shares of Valero Energy by 8.9% during the first quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company’s stock valued at $6,138,000 after buying an additional 3,790 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Valero Energy during the first quarter valued at $766,000. FORA Capital LLC purchased a new position in Valero Energy in the first quarter valued at about $866,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Valero Energy by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 560,495 shares of the oil and gas company’s stock valued at $74,025,000 after purchasing an additional 56,274 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $170.18 on Thursday. The firm has a fifty day simple moving average of $163.37 and a 200-day simple moving average of $144.43. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $178.43. The stock has a market capitalization of $51.91 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 1.77 and a beta of 1.01.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The business had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $28.80 billion. During the same period in the previous year, the company earned $1.14 earnings per share. Valero Energy’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 20th. Valero Energy’s payout ratio is currently 94.36%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VLO. Barclays lifted their price target on Valero Energy from $151.00 to $169.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Wells Fargo & Company initiated coverage on Valero Energy in a research note on Friday, October 17th. They issued an “overweight” rating and a $216.00 price target for the company. Citigroup lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and increased their price target for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Valero Energy from $177.00 to $197.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, Piper Sandler raised their price target on shares of Valero Energy from $200.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and a consensus target price of $179.27.

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.