Glenmede Trust Co. NA Boosts Holdings in Valero Energy Co. (NYSE:VLO)

Glenmede Trust Co. NA lifted its stake in shares of Valero Energy Co. (NYSE:VLO) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,505 shares of the oil and gas company’s stock after acquiring an additional 134 shares during the period. Glenmede Trust Co. NA’s holdings in Valero Energy were worth $6,145,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VLO. 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 Valero Energy by 1.8% in the third 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 acquiring an additional 22,571 shares during the last quarter. 180 Wealth Advisors LLC purchased a new stake in Valero Energy during the second quarter valued at about $535,000. Massmutual Trust Co. FSB ADV increased its stake in Valero Energy by 23.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock worth $6,696,000 after acquiring an additional 8,198 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Valero Energy by 66.0% in the 2nd quarter. GAMMA Investing LLC now owns 8,781 shares of the oil and gas company’s stock valued at $1,377,000 after purchasing an additional 3,492 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VLO shares. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $172.00 to $165.00 in a report on Wednesday, October 9th. 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 report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Bank of America initiated coverage on Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price for the company. Finally, BMO Capital Markets reduced their target price on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given 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 target price of $155.86.

Valero Energy Stock Performance

Shares of VLO stock opened at $139.02 on Friday. The company has a market cap of $44.01 billion, a P/E ratio of 12.47, a PEG ratio of 2.59 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 business has a 50 day moving average of $136.92 and a two-hundred day moving average of $145.35.

Valero Energy (NYSE:VLO) last released its quarterly earnings results 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. The company had revenue of $32.88 billion for the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.49 earnings per share. As a group, analysts anticipate that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.08%. Valero Energy’s payout ratio is 38.39%.

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.