Norges Bank Makes New $669.40 Million Investment in Valero Energy Co. (NYSE:VLO)

Norges Bank purchased a new stake in Valero Energy Co. (NYSE:VLO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,460,480 shares of the oil and gas company's stock, valued at approximately $669,400,000. Norges Bank owned approximately 1.72% of Valero Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VLO. Vanguard Group Inc. boosted its holdings in Valero Energy by 16.1% in the 4th 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 period. Charles Schwab Investment Management Inc. boosted its stake in Valero Energy by 4.0% during the fourth 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 buying an additional 413,963 shares during the period. Franklin Resources Inc. grew its position in Valero Energy by 5.6% during the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company's stock worth $639,268,000 after buying an additional 247,630 shares in the last quarter. Pacer Advisors Inc. increased its stake in Valero Energy by 13.6% in the 4th quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company's stock worth $499,210,000 after acquiring an additional 487,022 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Valero Energy by 4,908.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company's stock valued at $384,907,000 after acquiring an additional 2,793,607 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

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Valero Energy Trading Up 0.7 %

Shares of NYSE:VLO traded up $0.90 during midday trading on Monday, hitting $132.38. 1,423,673 shares of the stock traded hands, compared to its average volume of 3,298,304. 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 stock has a market capitalization of $41.70 billion, a PE ratio of 15.61, a P/E/G ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The business's 50 day moving average is $133.49 and its two-hundred day moving average is $133.31.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate 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 forecast that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 3.41%. Valero Energy's dividend payout ratio is 53.30%.

Analysts Set New Price Targets

A number of equities analysts have commented on VLO shares. Wells Fargo & Company cut their price target on shares of Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Piper Sandler cut their target price 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. Tudor Pickering raised shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Mizuho cut their price objective on shares of Valero Energy from $165.00 to $158.00 and set an "outperform" rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.67.

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.