Valero Energy Co. (NYSE:VLO) Position Increased by Synovus Financial Corp

Synovus Financial Corp lifted its position in Valero Energy Co. (NYSE:VLO) by 43.6% in the 3rd quarter, Holdings Channel reports. The fund owned 20,642 shares of the oil and gas company’s stock after buying an additional 6,272 shares during the period. Synovus Financial Corp’s holdings in Valero Energy were worth $2,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy in the second quarter worth approximately $27,000. Summit Securities Group LLC purchased a new position in shares of Valero Energy during the 2nd quarter valued at $31,000. Peterson Financial Group Inc. acquired a new position in shares of Valero Energy in the third quarter worth $28,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Valero Energy during the third quarter worth $34,000. Finally, American Capital Advisory LLC acquired a new stake in Valero Energy during the second quarter valued at $42,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Trading Down 0.4 %

Shares of Valero Energy stock opened at $129.14 on Friday. The company’s fifty day simple moving average is $136.27 and its 200-day simple moving average is $143.27. Valero Energy Co. has a 1 year low of $124.02 and a 1 year high of $184.79. 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 company has a market cap of $40.88 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.43 and a beta of 1.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data 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 net margin of 2.74% and a return on equity of 13.07%. The company had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter in the prior year, the company posted $7.49 EPS. The business’s revenue was down 14.4% on a year-over-year basis. As a group, sell-side analysts expect that Valero Energy Co. will post 8.86 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VLO shares. BMO Capital Markets dropped their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Citigroup cut 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. JPMorgan Chase & Co. decreased their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Bank of America assumed coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target on the stock. Finally, TD Cowen lowered their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

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.