Manning & Napier Advisors LLC Sells 4,814 Shares of Valero Energy Co. (NYSE:VLO)

Manning & Napier Advisors LLC lowered its stake in Valero Energy Co. (NYSE:VLO) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,199 shares of the oil and gas company’s stock after selling 4,814 shares during the period. Manning & Napier Advisors LLC’s holdings in Valero Energy were worth $11,425,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position 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 in the last quarter. Franklin Resources Inc. raised its position in Valero Energy by 5.6% during the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock valued at $639,268,000 after purchasing an additional 247,630 shares in the last quarter. Pacer Advisors Inc. lifted its stake in 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 purchasing an additional 487,022 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Valero Energy by 4,908.0% in the 3rd 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 purchasing an additional 2,793,607 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Valero Energy by 6.3% in the 3rd 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 purchasing an additional 151,200 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. TD Cowen reduced their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Bank of America assumed coverage on Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target for the company. Citigroup lowered their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.54.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $139.44 on Thursday. The business has a 50-day moving average price of $131.15 and a two-hundred day moving average price of $137.71. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a market cap of $44.14 billion, a P/E ratio of 12.51, a PEG ratio of 2.81 and a beta of 1.42.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be issued a $1.13 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, January 30th. Valero Energy’s payout ratio is presently 38.39%.

About Valero Energy

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.