Valero Energy Co. (NYSE:VLO) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its position in Valero Energy Co. (NYSE:VLO) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,033 shares of the oil and gas company’s stock after selling 1,736 shares during the quarter. Washington Trust Bank’s holdings in Valero Energy were worth $6,011,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in Valero Energy in the 4th quarter valued at about $25,000. Tobam bought a new stake in Valero Energy in the 4th quarter valued at about $30,000. True Wealth Design LLC lifted its position in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Valero Energy in the 4th quarter valued at about $38,000. Finally, OFI Invest Asset Management bought a new stake in Valero Energy in the 4th quarter valued at about $37,000. 78.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler dropped their price target on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report 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, Mizuho dropped their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $156.08.

Valero Energy Stock Performance

Valero Energy stock opened at $131.42 on Friday. The firm’s 50 day simple moving average is $133.96 and its 200-day simple moving average is $133.48. The company has a market cap of $41.39 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a fifty-two week low of $116.84 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, equities research analysts predict that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a $1.13 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Thursday, January 30th. Valero Energy’s dividend payout ratio (DPR) is 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.