Valero Energy Co. (NYSE:VLO) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its stake in shares of Valero Energy Co. (NYSE:VLO) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,797 shares of the oil and gas company’s stock after selling 5,575 shares during the quarter. Redwood Investment Management LLC’s holdings in Valero Energy were worth $4,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in Valero Energy by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,287,269 shares of the oil and gas company’s stock worth $1,389,090,000 after acquiring an additional 50,837 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Valero Energy by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock worth $1,090,532,000 after acquiring an additional 192,397 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Valero Energy by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after acquiring an additional 237,347 shares in the last quarter. Pacer Advisors Inc. raised its stake in Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after acquiring an additional 567,059 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Valero Energy by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock worth $440,394,000 after acquiring an additional 82,539 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO opened at $134.07 on Thursday. The company has a 50-day moving average of $137.14 and a two-hundred day moving average of $144.78. 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 $42.44 billion, a P/E ratio of 12.02, a PEG ratio of 2.57 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.

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 for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.49 earnings per share. As a group, research analysts predict that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio is presently 38.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America initiated coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target on the stock. Citigroup lowered their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $172.00 to $165.00 in a research report on Wednesday, October 9th. 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. Finally, Scotiabank lowered their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus 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.