Valero Energy Co. (NYSE:VLO) Stock Position Reduced by Washington Trust Bank

Washington Trust Bank cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,033 shares of the oil and gas company’s stock after selling 1,736 shares during the period. Washington Trust Bank’s holdings in Valero Energy were worth $6,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. grew its position in Valero Energy by 5.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 80,537 shares of the oil and gas company’s stock valued at $9,873,000 after purchasing an additional 3,912 shares in the last quarter. Boundary Creek Advisors LP acquired a new stake in Valero Energy in the fourth quarter valued at approximately $11,033,000. Viawealth LLC lifted its stake in Valero Energy by 1.4% in the fourth quarter. Viawealth LLC now owns 12,293 shares of the oil and gas company’s stock valued at $1,507,000 after acquiring an additional 167 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Valero Energy by 29.2% in the fourth quarter. Teacher Retirement System of Texas now owns 198,323 shares of the oil and gas company’s stock valued at $24,312,000 after acquiring an additional 44,826 shares during the last quarter. Finally, Sandy Spring Bank lifted its stake in Valero Energy by 4.1% in the fourth quarter. Sandy Spring Bank now owns 15,825 shares of the oil and gas company’s stock valued at $1,940,000 after acquiring an additional 622 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Valero Energy Price Performance

NYSE:VLO opened at $131.42 on Friday. The stock has a market cap of $41.39 billion, a P/E ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The company has a fifty day moving average price of $133.96 and a 200 day moving average price of $133.48. 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 (NYSE:VLO) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. Analysts anticipate 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 issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.44%. 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. Valero Energy’s payout ratio is 53.30%.

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.