Franklin Resources Inc. Boosts Stake in Valero Energy Co. (NYSE:VLO)

Franklin Resources Inc. grew its stake in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,687,585 shares of the oil and gas company's stock after acquiring an additional 247,630 shares during the quarter. Franklin Resources Inc. owned about 1.48% of Valero Energy worth $639,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Valero Energy by 1.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company's stock valued at $174,673,000 after acquiring an additional 22,571 shares during the period. Captrust Financial Advisors grew its holdings 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 period. HITE Hedge Asset Management LLC lifted its holdings in Valero Energy by 136.1% in the third quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company's stock valued at $10,143,000 after acquiring an additional 43,299 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Valero Energy by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company's stock valued at $1,090,532,000 after purchasing an additional 192,397 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Valero Energy by 130.9% in the second quarter. Blue Trust Inc. now owns 1,136 shares of the oil and gas company's stock worth $194,000 after acquiring an additional 644 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of Valero Energy stock traded down $0.54 on Friday, hitting $129.14. 1,717,977 shares of the company were exchanged, compared to its average volume of 2,252,146. 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 company has a 50-day moving average price of $136.27 and a 200 day moving average price of $143.42. The stock has a market capitalization of $40.88 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. Valero Energy Co. has a 1-year low of $124.02 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $7.49 earnings per share. The firm's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, sell-side analysts predict that Valero Energy Co. will post 8.86 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy's payout ratio is currently 38.39%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their price target on Valero Energy from $175.00 to $165.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Scotiabank dropped their price target on shares of 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. reduced their price objective on shares of Valero Energy from $172.00 to $151.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price objective on shares of Valero Energy from $149.00 to $131.00 and set a "sell" rating on the stock in a report on Monday, September 16th. Finally, Bank of America initiated coverage on shares of Valero Energy in a research note on Thursday, October 17th. They set a "neutral" rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $155.50.

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.