Valero Energy Co. (NYSE:VLO) Stock Holdings Lowered by Cadence Bank

Cadence Bank lowered its position in shares of Valero Energy Co. (NYSE:VLO) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 7,979 shares of the oil and gas company’s stock after selling 138 shares during the quarter. Cadence Bank’s holdings in Valero Energy were worth $1,077,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Valero Energy during the second quarter valued at approximately $15,945,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Valero Energy by 1.8% during 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 period. 180 Wealth Advisors LLC acquired a new stake in shares of Valero Energy during the second quarter valued at approximately $535,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 valued at $6,696,000 after acquiring an additional 8,198 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Valero Energy by 66.0% during the second quarter. GAMMA Investing LLC now owns 8,781 shares of the oil and gas company’s stock valued at $1,377,000 after acquiring an additional 3,492 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Performance

VLO stock opened at $138.55 on Thursday. 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 company has a market capitalization of $43.86 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 2.61 and a beta of 1.39. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The firm has a 50 day moving average of $136.83 and a two-hundred day moving average of $145.51.

Valero Energy (NYSE:VLO) last posted 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 business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. Valero Energy’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.49 EPS. As a group, equities analysts anticipate that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed 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. This represents a $4.28 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio is currently 38.39%.

Analyst Ratings Changes

A number of research firms have recently issued reports on VLO. TD Cowen cut their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. 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. The Goldman Sachs Group lowered their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $169.00 to $123.00 in a research report on Friday, September 20th. Finally, Mizuho lowered their price objective on shares of 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 given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.86.

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.