Montrusco Bolton Investments Inc. Increases Position in Valero Energy Co. (NYSE:VLO)

Montrusco Bolton Investments Inc. raised its position in Valero Energy Co. (NYSE:VLO) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,533,434 shares of the oil and gas company’s stock after purchasing an additional 151,200 shares during the period. Valero Energy accounts for 3.6% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 13th largest holding. Montrusco Bolton Investments Inc. owned approximately 0.80% of Valero Energy worth $342,090,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy in the 2nd quarter valued at $15,945,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Valero Energy by 1.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after buying an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Valero Energy in the 2nd quarter valued at $535,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Valero Energy by 23.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock valued at $6,696,000 after buying an additional 8,198 shares in the last quarter. Finally, BOKF NA boosted its holdings in shares of Valero Energy by 402.7% in the 1st quarter. BOKF NA now owns 17,303 shares of the oil and gas company’s stock valued at $2,987,000 after buying an additional 13,861 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 0.2 %

VLO stock opened at $140.87 on Friday. Valero Energy Co. has a one year low of $120.21 and a one year high of $184.79. The stock has a market capitalization of $44.60 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The company has a fifty day moving average of $136.59 and a 200-day moving average of $145.97.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the business earned $7.49 EPS. As a group, analysts expect that Valero Energy Co. will post 8.92 EPS 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 issued a $1.07 dividend. The ex-dividend date of this dividend 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 is presently 38.39%.

Wall Street Analyst Weigh In

VLO has been the subject of several research analyst reports. Barclays lowered their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Mizuho lowered their target price on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. BMO Capital Markets decreased their price target on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.86.

About Valero Energy

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.