Jennison Associates LLC Cuts Holdings in Valero Energy Co. (NYSE:VLO)

Jennison Associates LLC lessened its stake in Valero Energy Co. (NYSE:VLO) by 66.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 86,484 shares of the oil and gas company’s stock after selling 171,355 shares during the quarter. Jennison Associates LLC’s holdings in Valero Energy were worth $11,678,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Valero Energy during the 2nd quarter worth about $27,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy during the 2nd quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new position in Valero Energy in the first quarter valued at approximately $33,000. Summit Securities Group LLC purchased a new position in Valero Energy in the second quarter valued at approximately $31,000. Finally, Peterson Financial Group Inc. acquired a new stake in Valero Energy during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Down 0.2 %

Shares of NYSE:VLO opened at $140.87 on Friday. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.65 and a beta of 1.39. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79. The firm’s 50-day simple moving average is $136.59 and its 200-day simple moving average is $145.97. 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 (NYSE:VLO) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same period in the prior year, the business posted $7.49 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, equities research analysts predict that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.04%. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analyst Weigh In

A number of research firms recently commented on VLO. Barclays dropped their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $172.00 to $165.00 in a report on Wednesday, October 9th. Scotiabank decreased their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Finally, Mizuho decreased their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Company 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.