Corebridge Financial Inc. Decreases Stock Position in Valero Energy Co. (NYSE:VLO)

Corebridge Financial Inc. lessened its holdings in Valero Energy Co. (NYSE:VLO - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,177 shares of the oil and gas company's stock after selling 4,400 shares during the quarter. Corebridge Financial Inc.'s holdings in Valero Energy were worth $9,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. New Wave Wealth Advisors LLC acquired a new position in Valero Energy during the fourth quarter worth $25,000. Tobam acquired a new position in shares of Valero Energy during the 4th quarter worth $30,000. True Wealth Design LLC increased its holdings in shares of Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 183 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $37,000. Finally, Golden State Wealth Management LLC purchased a new stake in Valero Energy during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Analysts Set New Price Targets

VLO has been the subject of a number of research analyst reports. Mizuho dropped their target price on shares of Valero Energy from $165.00 to $158.00 and set an "outperform" rating for the company in a report on Wednesday, January 8th. Tudor Pickering raised shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Piper Sandler lowered their target price on Valero Energy from $149.00 to $144.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price target on Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $152.67.

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Valero Energy Trading Up 0.5 %

Shares of NYSE VLO traded up $0.71 during midday trading on Monday, hitting $132.19. The stock had a trading volume of 2,766,688 shares, compared to its average volume of 2,886,171. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The company has a market capitalization of $41.64 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.93 and a beta of 1.36. The company has a fifty day moving average price of $133.31 and a 200 day moving average price of $133.30.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. On average, analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were issued a $1.13 dividend. This is an increase from Valero Energy's previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, January 30th. Valero Energy's dividend payout ratio is currently 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.