Valero Energy Co. (NYSE:VLO) Shares Sold by Commerce Bank

Commerce Bank lowered its stake in Valero Energy Co. (NYSE:VLO) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,540 shares of the oil and gas company’s stock after selling 5,684 shares during the period. Commerce Bank’s holdings in Valero Energy were worth $3,989,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in Valero Energy during the 2nd quarter worth $15,945,000. Allspring Global Investments Holdings LLC increased its stake 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 acquiring an additional 22,571 shares during the period. 180 Wealth Advisors LLC purchased a new position in Valero Energy during the second quarter worth about $535,000. Massmutual Trust Co. FSB ADV lifted its position in Valero Energy by 23.7% in 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 during the period. Finally, BOKF NA boosted its holdings in Valero Energy by 402.7% in the 1st quarter. BOKF NA now owns 17,303 shares of the oil and gas company’s stock valued at $2,987,000 after purchasing an additional 13,861 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Trading Down 0.2 %

Shares of VLO stock opened at $140.87 on Friday. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.65 and a beta of 1.39. The firm has a 50-day moving average price of $136.59 and a 200 day moving average price of $145.97. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion for 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%. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.49 earnings per share. Research analysts forecast that Valero Energy Co. will post 8.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.04%. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VLO. Barclays cut their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. Citigroup cut their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho decreased their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Bank of America initiated coverage on shares of Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.