Sumitomo Life Insurance Co. Has $580,000 Stock Holdings in Valero Energy Co. (NYSE:VLO)

Sumitomo Life Insurance Co. lowered its stake in Valero Energy Co. (NYSE:VLO) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,729 shares of the oil and gas company’s stock after selling 266 shares during the period. Sumitomo Life Insurance Co.’s holdings in Valero Energy were worth $580,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Quad Cities Investment Group LLC increased its stake in shares of Valero Energy by 1.6% during the third quarter. Quad Cities Investment Group LLC now owns 4,851 shares of the oil and gas company’s stock worth $655,000 after purchasing an additional 75 shares during the period. Providence Wealth Advisors LLC lifted its holdings in shares of Valero Energy by 0.9% during the third quarter. Providence Wealth Advisors LLC now owns 8,784 shares of the oil and gas company’s stock worth $1,169,000 after buying an additional 75 shares in the last quarter. New Century Financial Group LLC boosted its position in shares of Valero Energy by 5.0% in the third quarter. New Century Financial Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 81 shares during the period. Segment Wealth Management LLC grew its stake in shares of Valero Energy by 1.7% in the fourth quarter. Segment Wealth Management LLC now owns 4,947 shares of the oil and gas company’s stock valued at $606,000 after acquiring an additional 81 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its position in Valero Energy by 4.7% during the third quarter. Opal Wealth Advisors LLC now owns 1,834 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 82 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. BMO Capital Markets lowered their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. TD Cowen cut their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company decreased their price target on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Bank of America initiated coverage on shares of Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective for the company. One research 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’s stock. According to MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus price target of $154.54.

Valero Energy Stock Down 3.0 %

Shares of NYSE:VLO opened at $135.36 on Friday. 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 company has a market capitalization of $42.85 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.42. Valero Energy Co. has a 52-week low of $116.84 and a 52-week high of $184.79. The company has a fifty day moving average of $131.11 and a 200-day moving average of $137.72.

Valero Energy (NYSE:VLO) last released its quarterly earnings data 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 return on equity of 13.07% and a net margin of 2.74%. On average, equities analysts predict that Valero Energy Co. will post 7.93 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be given a dividend of $1.13 per share. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Thursday, January 30th. Valero Energy’s dividend payout ratio (DPR) 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.