State of Michigan Retirement System Has $11.95 Million Stock Holdings in Valero Energy Co. (NYSE:VLO)

State of Michigan Retirement System lowered its stake in shares of Valero Energy Co. (NYSE:VLO) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,462 shares of the oil and gas company’s stock after selling 2,200 shares during the quarter. State of Michigan Retirement System’s holdings in Valero Energy were worth $11,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Valero Energy by 4.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,731 shares of the oil and gas company’s stock worth $3,767,000 after acquiring an additional 1,194 shares during the period. Silver Coast Investments LLC lifted its holdings in Valero Energy by 1.7% during the 4th quarter. Silver Coast Investments LLC now owns 5,070 shares of the oil and gas company’s stock worth $622,000 after buying an additional 83 shares in the last quarter. Garrett Wealth Advisory Group LLC boosted its holdings in Valero Energy by 4.9% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 4,284 shares of the oil and gas company’s stock valued at $525,000 after acquiring an additional 200 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Valero Energy by 3.1% during the fourth quarter. Fidelis Capital Partners LLC now owns 12,037 shares of the oil and gas company’s stock worth $1,639,000 after buying an additional 362 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Valero Energy by 43.3% in the 4th quarter. Plato Investment Management Ltd now owns 2,993 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 905 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $121.81 on Thursday. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 2.93 and a beta of 1.42. The company’s fifty day moving average is $132.49 and its 200 day moving average is $134.66. The company has a quick ratio of 1.11, a current ratio of 1.57 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.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. Sell-side analysts forecast that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.71%. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays dropped their price objective on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. 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, Mizuho lowered their price objective on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently 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.