KLP Kapitalforvaltning AS Takes $27 Million Position in Valero Energy Co. (NYSE:VLO)

KLP Kapitalforvaltning AS bought a new position in Valero Energy Co. (NYSE:VLO) during the fourth quarter, Holdings Channel reports. The firm bought 220,261 shares of the oil and gas company’s stock, valued at approximately $27,002,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in Valero Energy in the 4th quarter worth approximately $25,000. Tobam purchased a new position in shares of Valero Energy in the fourth quarter valued at $30,000. True Wealth Design LLC increased its position in Valero Energy by 196.8% in 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. Golden State Wealth Management LLC purchased a new stake in Valero Energy during the fourth quarter valued at $38,000. Finally, OFI Invest Asset Management bought a new position in Valero Energy during the fourth quarter valued at $37,000. 78.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VLO. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler lowered their price objective on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Mizuho dropped their target price on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. One equities research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.08.

Valero Energy Stock Down 2.5 %

NYSE:VLO opened at $131.42 on Friday. The stock has a fifty day simple moving average of $133.96 and a 200-day simple moving average of $133.43. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a twelve month low of $116.84 and a twelve month high of $184.79.

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 net margin of 2.13% and a return on equity of 9.58%. Analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 annualized dividend and a yield of 3.44%. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is 53.30%.

Valero Energy Company 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.