Valero Energy Co. (NYSE:VLO) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc reduced its stake in Valero Energy Co. (NYSE:VLO) by 56.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,947 shares of the oil and gas company’s stock after selling 3,783 shares during the quarter. First Financial Bankshares Inc’s holdings in Valero Energy were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Valero Energy by 4,908.0% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Valero Energy in the 4th quarter valued at $132,469,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Valero Energy by 900.2% during the 3rd 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 acquiring an additional 568,000 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock valued at $484,105,000 after acquiring an additional 567,059 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in Valero Energy in the 3rd quarter valued at about $70,352,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $131.97 on Wednesday. The firm has a market capitalization of $41.57 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.93 and a beta of 1.36. 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 52 week low of $116.84 and a 52 week high of $184.79. The firm’s 50 day moving average is $133.50 and its two-hundred day moving average is $133.58.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping 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%. Research analysts forecast that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were given a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.43%. Valero Energy’s dividend payout ratio is 53.30%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler decreased their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target 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.