Intact Investment Management Inc. Increases Position in Valero Energy Co. (NYSE:VLO)

Intact Investment Management Inc. increased its stake in shares of Valero Energy Co. (NYSE:VLO) by 37.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,600 shares of the oil and gas company’s stock after buying an additional 8,050 shares during the quarter. Intact Investment Management Inc.’s holdings in Valero Energy were worth $3,629,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Valero Energy during the fourth quarter valued at $25,000. Peterson Financial Group Inc. purchased a new stake in shares of Valero Energy during the third quarter valued at $28,000. Tobam purchased a new stake in shares of Valero Energy during the fourth quarter valued at $30,000. True Wealth Design LLC grew its holdings in shares of Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 183 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Valero Energy during the fourth quarter valued at $38,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Trading Up 2.7 %

Shares of Valero Energy stock opened at $129.20 on Friday. The firm has a 50-day simple moving average of $133.12 and a two-hundred day simple moving average of $133.84. The company has a market cap of $40.70 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a fifty-two week low of $116.84 and a fifty-two week high of $184.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping 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%. As a group, equities analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is 53.30%.

Analyst Ratings Changes

Several equities research analysts have commented on VLO shares. Piper Sandler lowered their price target on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lowered their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Mizuho lowered their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.08.

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.