Bank of New York Mellon Corp Trims Stake in Valero Energy Co. (NYSE:VLO)

Bank of New York Mellon Corp decreased its stake in shares of Valero Energy Co. (NYSE:VLO) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,037,991 shares of the oil and gas company’s stock after selling 409,178 shares during the period. Bank of New York Mellon Corp owned 0.96% of Valero Energy worth $372,427,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VLO. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 50,837 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Valero Energy by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock worth $639,268,000 after purchasing an additional 247,630 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Valero Energy by 13.6% during the fourth quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock worth $499,210,000 after buying an additional 487,022 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after buying an additional 2,793,607 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its stake in shares of Valero Energy by 6.3% during the third 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 buying an additional 151,200 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on VLO. Wells Fargo & Company lowered their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Mizuho decreased their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays dropped 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 note on Monday, November 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Stock Down 2.7 %

Shares of NYSE VLO opened at $130.11 on Thursday. The stock has a fifty day moving average price of $131.61 and a 200 day moving average price of $135.41. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 12-month low of $116.84 and a 12-month high of $184.79. The company has a market cap of $41.19 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.93 and a beta of 1.42.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date is Thursday, January 30th. Valero Energy’s payout ratio is presently 53.30%.

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.