Truist Financial Corp Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Truist Financial Corp decreased its holdings in Valero Energy Co. (NYSE:VLO) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 355,992 shares of the oil and gas company’s stock after selling 902 shares during the quarter. Truist Financial Corp’s holdings in Valero Energy were worth $43,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake 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 during the period. Franklin Resources Inc. boosted its stake in shares of Valero Energy by 5.6% in the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock valued at $639,268,000 after purchasing an additional 247,630 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Valero Energy by 13.6% in the fourth quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock valued at $499,210,000 after purchasing an additional 487,022 shares during the period. Wellington Management Group LLP boosted its stake in shares of Valero Energy by 4,908.0% in 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 purchasing an additional 2,793,607 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Valero Energy by 6.3% in the third quarter. Montrusco Bolton Investments Inc. now owns 2,533,434 shares of the oil and gas company’s stock valued at $342,090,000 after purchasing an additional 151,200 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $138.23 on Wednesday. The firm’s fifty day simple moving average is $130.57 and its 200-day simple moving average is $136.00. The stock has a market capitalization of $43.76 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.85 and a beta of 1.42. Valero Energy Co. has a 12 month low of $116.84 and a 12 month high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, equities analysts forecast that Valero Energy Co. will post 7.86 earnings per share for the current year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.27%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Thursday, January 30th. Valero Energy’s dividend payout ratio (DPR) is 53.30%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VLO shares. Piper Sandler upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. TD Cowen decreased their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Citigroup decreased their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.46.

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.