Northwest Bancshares Inc. Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Northwest Bancshares Inc. trimmed its holdings in Valero Energy Co. (NYSE:VLO - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,953 shares of the oil and gas company's stock after selling 4,150 shares during the period. Northwest Bancshares Inc.'s holdings in Valero Energy were worth $4,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in Valero Energy during the second quarter worth about $15,945,000. Allspring Global Investments Holdings LLC grew its position in Valero Energy by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company's stock worth $174,673,000 after buying an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in Valero Energy during the second quarter worth approximately $535,000. Massmutual Trust Co. FSB ADV grew its position in Valero Energy by 23.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company's stock worth $6,696,000 after buying an additional 8,198 shares in the last quarter. Finally, BOKF NA grew its position in Valero Energy by 402.7% during the first quarter. BOKF NA now owns 17,303 shares of the oil and gas company's stock worth $2,987,000 after buying an additional 13,861 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VLO shares. Barclays cut their price objective on Valero Energy from $146.00 to $140.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Citigroup cut their target price on Valero Energy from $192.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, October 25th. TD Cowen cut their target price on Valero Energy from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Bank of America started coverage on Valero Energy in a research note on Thursday, October 17th. They issued a "neutral" rating and a $150.00 price objective on the stock. Finally, BMO Capital Markets decreased their target price on Valero Energy from $175.00 to $165.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.86.

Valero Energy Stock Performance

NYSE:VLO traded down $1.77 during trading hours on Wednesday, reaching $140.24. The company had a trading volume of 1,045,546 shares, compared to its average volume of 2,936,812. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.69 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average price is $136.15 and its 200-day moving average price is $146.15. Valero Energy Co. has a 52 week low of $120.21 and a 52 week high of $184.79.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion during the quarter, compared to analysts' expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.49 EPS. On average, analysts forecast that Valero Energy Co. will post 8.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, November 20th. Valero Energy's dividend payout ratio (DPR) is 38.39%.

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.