Perigon Wealth Management LLC Has $598,000 Stock Position in Valero Energy Co. (NYSE:VLO)

Perigon Wealth Management LLC raised its holdings in shares of Valero Energy Co. (NYSE:VLO) by 64.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,879 shares of the oil and gas company’s stock after buying an additional 1,920 shares during the quarter. Perigon Wealth Management LLC’s holdings in Valero Energy were worth $598,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VLO. Allspring Global Investments Holdings LLC raised its stake in Valero Energy by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after purchasing an additional 22,571 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Valero Energy during the fourth quarter valued at about $1,226,000. Hudson Capital Management LLC lifted its stake in shares of Valero Energy by 6.5% in the fourth quarter. Hudson Capital Management LLC now owns 31,792 shares of the oil and gas company’s stock valued at $3,897,000 after buying an additional 1,937 shares during the period. Miracle Mile Advisors LLC acquired a new stake in Valero Energy during the fourth quarter worth about $274,000. Finally, Captrust Financial Advisors raised its holdings in Valero Energy by 7.5% in the 3rd quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company’s stock valued at $12,121,000 after acquiring an additional 6,278 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Valero Energy stock opened at $132.85 on Friday. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. The firm has a market cap of $42.06 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The business’s fifty day moving average is $130.99 and its two-hundred day moving average is $137.71.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. Equities research analysts forecast that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VLO shares. Wells Fargo & Company decreased their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen lowered their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Mizuho lowered their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Finally, Scotiabank cut their price target on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.46.

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.