Cambridge Financial Group Inc. Makes New Investment in Valero Energy Co. (NYSE:VLO)

Cambridge Financial Group Inc. purchased a new stake in Valero Energy Co. (NYSE:VLO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,375 shares of the oil and gas company's stock, valued at approximately $5,808,000. Valero Energy accounts for 2.4% of Cambridge Financial Group Inc.'s investment portfolio, making the stock its 29th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its position in shares of Valero Energy by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 123,356 shares of the oil and gas company's stock worth $14,751,000 after purchasing an additional 455 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Valero Energy during the fourth quarter valued at approximately $1,226,000. Hudson Capital Management LLC raised its position in Valero Energy by 6.5% during the fourth quarter. Hudson Capital Management LLC now owns 31,792 shares of the oil and gas company's stock worth $3,897,000 after acquiring an additional 1,937 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in Valero Energy during the fourth quarter worth about $274,000. Finally, Captrust Financial Advisors lifted its position in Valero Energy by 7.5% during the third quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company's stock worth $12,121,000 after acquiring an additional 6,278 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VLO. 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. Wells Fargo & Company cut their price target on Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Tudor Pickering upgraded shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, Piper Sandler dropped their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.67.

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Valero Energy Stock Down 0.3 %

Valero Energy stock traded down $0.39 during trading on Wednesday, hitting $133.35. 1,084,932 shares of the company were exchanged, compared to its average volume of 2,877,598. The company has a market capitalization of $42.00 billion, a P/E ratio of 15.73, a PEG ratio of 2.93 and a beta of 1.36. The business's 50 day moving average is $133.19 and its 200 day moving average is $133.30. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 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 predict that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were issued a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This is a positive change from Valero Energy's previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.39%. Valero Energy's dividend payout ratio is currently 53.30%.

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.