Kentucky Retirement Systems Trims Position in Valero Energy Co. (NYSE:VLO)

Kentucky Retirement Systems lessened its holdings in Valero Energy Co. (NYSE:VLO) by 9.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,319 shares of the oil and gas company’s stock after selling 2,322 shares during the quarter. Kentucky Retirement Systems’ holdings in Valero Energy were worth $3,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VLO. EdgeRock Capital LLC bought a new stake in Valero Energy during the 2nd quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Valero Energy in the second quarter worth $29,000. Pathway Financial Advisers LLC bought a new position in shares of Valero Energy during the first quarter worth $33,000. Summit Securities Group LLC bought a new stake in Valero Energy in the 2nd quarter valued at $31,000. Finally, First Foundation Advisors purchased a new stake in Valero Energy in the 1st quarter worth $37,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Valero Energy stock opened at $140.16 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market cap of $44.37 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.39. The firm has a 50-day moving average of $135.83 and a two-hundred day moving average of $146.42. Valero Energy Co. has a 1 year low of $120.21 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.49 earnings per share. On average, research analysts forecast that Valero Energy Co. will post 9.1 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VLO shares. Citigroup cut their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Scotiabank reduced their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets decreased their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $172.00 to $165.00 in a report on Wednesday, October 9th. Finally, TD Cowen decreased 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.