Geode Capital Management LLC Reduces Holdings in Valero Energy Corporation $VLO

Geode Capital Management LLC trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,073,146 shares of the oil and gas company’s stock after selling 84,646 shares during the period. Geode Capital Management LLC’s holdings in Valero Energy were worth $1,309,210,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. CYBER HORNET ETFs LLC increased its stake in shares of Valero Energy by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 51 shares in the last quarter. Providence Wealth Advisors LLC increased its stake in shares of Valero Energy by 0.5% during the 4th quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock worth $1,564,000 after purchasing an additional 52 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Valero Energy by 1.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 3,788 shares of the oil and gas company’s stock worth $617,000 after purchasing an additional 53 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of Valero Energy by 0.3% during the 4th quarter. Prospera Financial Services Inc now owns 16,268 shares of the oil and gas company’s stock worth $2,651,000 after purchasing an additional 53 shares in the last quarter. Finally, Montecito Bank & Trust increased its stake in shares of Valero Energy by 1.4% during the 4th quarter. Montecito Bank & Trust now owns 3,909 shares of the oil and gas company’s stock worth $636,000 after purchasing an additional 54 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VLO shares. Barclays raised their price objective on shares of Valero Energy from $184.00 to $261.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. The Goldman Sachs Group raised their price objective on shares of Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Mizuho raised their price objective on shares of Valero Energy from $222.00 to $289.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler raised their price objective on shares of Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.65.

Insider Transactions at Valero Energy

In related news, SVP Eric A. Fisher sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $238.60, for a total transaction of $95,440.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.

Valero Energy Stock Up 2.0%

Shares of NYSE VLO opened at $245.10 on Friday. Valero Energy Corporation has a 1 year low of $125.10 and a 1 year high of $263.75. The firm’s 50 day moving average price is $242.67 and its 200 day moving average price is $206.77. The firm has a market cap of $72.78 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.35 and a beta of 0.58. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The firm had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. During the same quarter last year, the business earned $0.89 earnings per share. Valero Energy’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valero Energy Corporation will post 26.51 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st will be given a dividend of $1.20 per share. The ex-dividend date is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Valero Energy’s dividend payout ratio (DPR) is 34.88%.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.