ProVise Management Group LLC Has $667,000 Holdings in Valero Energy Co. (NYSE:VLO)

ProVise Management Group LLC lessened its stake in Valero Energy Co. (NYSE:VLO) by 35.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,441 shares of the oil and gas company’s stock after selling 3,049 shares during the quarter. ProVise Management Group LLC’s holdings in Valero Energy were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VLO. New Wave Wealth Advisors LLC bought a new position in Valero Energy in the fourth quarter valued at about $25,000. Tobam bought a new position in Valero Energy in the fourth quarter valued at about $30,000. True Wealth Design LLC grew its position in Valero Energy by 196.8% in the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 183 shares during the last quarter. OFI Invest Asset Management bought a new position in Valero Energy in the fourth quarter valued at about $37,000. Finally, Golden State Wealth Management LLC bought a new position in Valero Energy in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $133.89 on Thursday. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. 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 business’s 50 day simple moving average is $133.68 and its 200 day simple moving average is $133.58. The stock has a market capitalization of $42.17 billion, a PE ratio of 15.79, a PEG ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently declared 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 of this dividend was Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.38%. Valero Energy’s payout ratio is 53.30%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VLO shares. Piper Sandler decreased their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Mizuho reduced their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.08.

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.