Prudential PLC Sells 2,435 Shares of Valero Energy Co. (NYSE:VLO)

Prudential PLC cut its position in shares of Valero Energy Co. (NYSE:VLO) by 17.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,418 shares of the oil and gas company’s stock after selling 2,435 shares during the period. Prudential PLC’s holdings in Valero Energy were worth $1,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Valero Energy by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock valued at $4,257,024,000 after purchasing an additional 4,805,133 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Valero Energy by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,701,232 shares of the oil and gas company’s stock valued at $1,311,864,000 after acquiring an additional 413,963 shares in the last quarter. Geode Capital Management LLC grew its stake in Valero Energy by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company’s stock valued at $844,775,000 after purchasing an additional 100,248 shares in the last quarter. Norges Bank bought a new position in shares of Valero Energy in the fourth quarter valued at $669,400,000. Finally, Franklin Resources Inc. raised its position in Valero Energy by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 4,759,172 shares of the oil and gas company’s stock worth $583,427,000 after acquiring an additional 71,587 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VLO. Wells Fargo & Company lowered their price objective on shares of 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 reduced their price objective on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Mizuho lowered their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.67.

Valero Energy Price Performance

Valero Energy stock opened at $104.64 on Monday. The firm has a market cap of $32.96 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock’s fifty day moving average price is $131.94 and its two-hundred day moving average price is $132.92. Valero Energy Co. has a one year low of $101.54 and a one year high of $183.38.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, research analysts expect that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The company 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 represents a $4.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is 53.30%.

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.