Valero Energy Co. (NYSE:VLO) Shares Sold by Montecito Bank & Trust

Montecito Bank & Trust cut its stake in Valero Energy Co. (NYSE:VLO) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,617 shares of the oil and gas company’s stock after selling 195 shares during the quarter. Montecito Bank & Trust’s holdings in Valero Energy were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Valero Energy in the 3rd quarter valued at $28,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Valero Energy in the third quarter valued at about $34,000. True Wealth Design LLC increased its position in Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Valero Energy during the third quarter worth about $38,000. Finally, Ashton Thomas Securities LLC acquired a new position in Valero Energy in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Stock Down 0.7 %

Shares of NYSE:VLO opened at $139.80 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $131.29 and its 200 day moving average price is $137.98. The stock has a market cap of $44.26 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.81 and a beta of 1.42. Valero Energy Co. has a fifty-two week low of $116.84 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the company posted $7.49 earnings per share. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. As a group, equities research analysts predict that Valero Energy Co. will post 7.93 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VLO shares. Wells Fargo & Company cut their price target on shares of Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Scotiabank decreased their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Piper Sandler upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Finally, Mizuho lowered their target price 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.57.

Valero Energy 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.