Hancock Whitney Corp Sells 344 Shares of Valero Energy Co. (NYSE:VLO)

Hancock Whitney Corp reduced its stake in Valero Energy Co. (NYSE:VLO) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,410 shares of the oil and gas company’s stock after selling 344 shares during the period. Hancock Whitney Corp’s holdings in Valero Energy were worth $7,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VLO. Truvestments Capital LLC bought a new position in shares of Valero Energy in the 3rd quarter worth approximately $176,000. Brown Brothers Harriman & Co. raised its holdings in Valero Energy by 57.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,701 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 1,722 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Valero Energy during the third quarter valued at $1,077,000. Fisher Asset Management LLC grew its position in shares of Valero Energy by 89.1% in the 3rd quarter. Fisher Asset Management LLC now owns 16,855 shares of the oil and gas company’s stock worth $2,276,000 after buying an additional 7,942 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Valero Energy by 10.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 39,708 shares of the oil and gas company’s stock worth $5,362,000 after buying an additional 3,829 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO opened at $141.51 on Monday. The company’s 50-day simple moving average is $136.59 and its two-hundred day simple moving average is $145.81. 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 stock has a market capitalization of $44.80 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.63 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.

Valero Energy (NYSE:VLO) last issued 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 company had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter in the prior year, the firm earned $7.49 earnings per share. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, analysts predict that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s payout ratio is currently 38.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup dropped their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Scotiabank dropped their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Barclays dropped their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, The Goldman Sachs Group reduced their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

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.