Valero Energy Co. (NYSE:VLO) Stake Reduced by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its stake in Valero Energy Co. (NYSE:VLO) by 3.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,321 shares of the oil and gas company’s stock after selling 122 shares during the quarter. Cigna Investments Inc. New’s holdings in Valero Energy were worth $449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in Valero Energy in the 2nd quarter valued at about $15,945,000. Allspring Global Investments Holdings LLC boosted its position 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 worth $174,673,000 after buying an additional 22,571 shares during the period. 180 Wealth Advisors LLC bought a new stake in Valero Energy during the 2nd quarter valued at $535,000. UniSuper Management Pty Ltd boosted its position in Valero Energy by 223.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company’s stock worth $1,843,000 after acquiring an additional 7,455 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake 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 purchasing an additional 8,198 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America began coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target for the company. Barclays lowered their price target on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen dropped their price target 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. 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 note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut 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 note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.29.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $128.22 on Friday. The company’s fifty day moving average is $136.69 and its two-hundred day moving average is $148.56. The company has a market cap of $41.08 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 2.32 and a beta of 1.39. Valero Energy Co. has a 12-month low of $119.88 and a 12-month high of $184.79. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period in the previous year, the firm earned $7.49 earnings per share. Valero Energy’s quarterly revenue was down 14.4% on a year-over-year basis. Equities analysts expect that Valero Energy Co. will post 9.32 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared 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 3.34%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s dividend payout ratio is currently 38.39%.

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.