Valero Energy Co. (NYSE:VLO) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,797 shares of the oil and gas company’s stock after selling 5,575 shares during the quarter. Redwood Investment Management LLC’s holdings in Valero Energy were worth $4,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VLO. Charles Schwab Investment Management Inc. grew its stake in shares of Valero Energy by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock valued at $1,389,090,000 after buying an additional 50,837 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Valero Energy by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after buying an additional 192,397 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Valero Energy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock valued at $677,007,000 after buying an additional 237,347 shares during the period. Pacer Advisors Inc. grew its stake in shares of Valero Energy by 18.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock valued at $484,105,000 after buying an additional 567,059 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Valero Energy by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock valued at $440,394,000 after buying an additional 82,539 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays dropped their price target 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. TD Cowen lowered their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Scotiabank lowered their price objective on shares of 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. Finally, Mizuho lowered their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Price Performance

Valero Energy stock opened at $134.07 on Thursday. The firm has a market cap of $42.44 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 2.57 and a beta of 1.39. Valero Energy Co. has a 52-week low of $120.21 and a 52-week high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $137.14 and its two-hundred day moving average is $144.78.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period last year, the business earned $7.49 EPS. The company’s revenue was down 14.4% on a year-over-year basis. On average, research analysts expect that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed 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 is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.19%. Valero Energy’s payout ratio is 38.39%.

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.