Valero Energy Co. (NYSE:VLO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,856 shares of the oil and gas company’s stock after selling 1,831 shares during the period. Maryland State Retirement & Pension System’s holdings in Valero Energy were worth $2,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock worth $384,907,000 after purchasing an additional 2,793,607 shares during the period. Raymond James Financial Inc. acquired a new stake in Valero Energy in the fourth quarter worth approximately $132,469,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Valero Energy by 900.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock worth $85,217,000 after purchasing an additional 568,000 shares during the period. Pacer Advisors Inc. lifted its position in Valero Energy by 18.8% in the third quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after purchasing an additional 567,059 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Valero Energy in the third quarter worth approximately $70,352,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $135.00 on Friday. The company’s fifty day moving average is $133.87 and its two-hundred day moving average is $133.59. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 12-month low of $116.84 and a 12-month high of $184.79. The company has a market cap of $42.52 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. Equities analysts expect 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 was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were issued a dividend of $1.13 per share. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, January 30th. Valero Energy’s payout ratio is currently 53.30%.

Analyst Upgrades and Downgrades

VLO has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Mizuho dropped their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler dropped their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.08.

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.