State of Michigan Retirement System Sells 2,200 Shares of Valero Energy Co. (NYSE:VLO)

State of Michigan Retirement System reduced its stake in shares of Valero Energy Co. (NYSE:VLO) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 97,462 shares of the oil and gas company’s stock after selling 2,200 shares during the period. State of Michigan Retirement System’s holdings in Valero Energy were worth $11,948,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Valero Energy during the 3rd quarter valued at $38,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Valero Energy by 6.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 239,632 shares of the oil and gas company’s stock valued at $32,358,000 after purchasing an additional 14,143 shares in the last quarter. NorthRock Partners LLC boosted its holdings in Valero Energy by 30.7% during the third quarter. NorthRock Partners LLC now owns 2,625 shares of the oil and gas company’s stock worth $354,000 after purchasing an additional 616 shares during the last quarter. Harvest Portfolios Group Inc. grew its position in Valero Energy by 18.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 11,333 shares of the oil and gas company’s stock worth $1,530,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Foster & Motley Inc. increased its stake in Valero Energy by 23.3% in the 3rd quarter. Foster & Motley Inc. now owns 20,802 shares of the oil and gas company’s stock valued at $2,809,000 after buying an additional 3,934 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VLO. Wells Fargo & Company reduced their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Mizuho reduced their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays lowered their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.46.

Valero Energy Price Performance

Valero Energy stock opened at $121.81 on Thursday. 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 one year low of $116.84 and a one year high of $184.79. The firm has a market capitalization of $38.56 billion, a P/E ratio of 14.36, a PEG ratio of 2.93 and a beta of 1.42. The business has a fifty day moving average price of $132.49 and a 200-day moving average price of $134.66.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, January 30th were paid a $1.13 dividend. The ex-dividend date was Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.71%. Valero Energy’s dividend payout ratio is currently 53.30%.

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.