Conning Inc. Sells 279 Shares of Valero Energy Co. (NYSE:VLO)

Conning Inc. reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 5.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,455 shares of the oil and gas company’s stock after selling 279 shares during the period. Conning Inc.’s holdings in Valero Energy were worth $546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Valero Energy by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock worth $1,389,090,000 after buying an additional 50,837 shares in the last quarter. Franklin Resources Inc. boosted its position in Valero Energy by 5.6% during 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 last quarter. Pacer Advisors Inc. increased its position in shares of Valero Energy by 13.6% during the 4th quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock worth $499,210,000 after purchasing an additional 487,022 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Valero Energy by 4,908.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock worth $384,907,000 after purchasing an additional 2,793,607 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its position in shares of Valero Energy by 6.3% in the 3rd 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 acquiring an additional 151,200 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of VLO opened at $133.05 on Friday. 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 Co. has a 52-week low of $116.84 and a 52-week high of $184.79. The business’s 50 day moving average price is $130.66 and its two-hundred day moving average price is $137.20. The firm has a market cap of $42.12 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 2.85 and a beta of 1.42.

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

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Barclays cut their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company decreased their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Bank of America started coverage on Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.46.

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.