Massachusetts Financial Services Co. MA Trims Stock Holdings in Valero Energy Co. (NYSE:VLO)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,150,076 shares of the oil and gas company’s stock after selling 57,537 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Valero Energy were worth $290,325,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of VLO. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy during the second quarter valued at $27,000. Lynx Investment Advisory bought a new position in Valero Energy in the 2nd quarter worth about $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy during the first quarter worth approximately $33,000. Summit Securities Group LLC bought a new stake in shares of Valero Energy during the second quarter valued at approximately $31,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Valero Energy in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

NYSE VLO opened at $140.87 on Friday. The stock has a fifty day simple moving average of $136.59 and a 200-day simple moving average of $145.97. 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 stock has a market cap of $44.60 billion, a PE ratio of 12.63, a P/E/G ratio of 2.64 and a beta of 1.39. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter in the previous year, the company earned $7.49 earnings per share. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities analysts anticipate that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.04%. Valero Energy’s dividend payout ratio is currently 38.39%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company upgraded Valero Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $172.00 to $165.00 in a report on Wednesday, October 9th. Citigroup reduced their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Bank of America assumed coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective on the stock. TD Cowen reduced their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Mizuho dropped their target price on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.86.

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.