State of Alaska Department of Revenue Sells 4,545 Shares of Valero Energy Co. (NYSE:VLO)

State of Alaska Department of Revenue trimmed its position in Valero Energy Co. (NYSE:VLO - Free Report) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,544 shares of the oil and gas company's stock after selling 4,545 shares during the period. State of Alaska Department of Revenue's holdings in Valero Energy were worth $5,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Valero Energy during the second quarter worth $27,000. Lynx Investment Advisory acquired a new position in Valero Energy in the second quarter valued at about $29,000. Summit Securities Group LLC bought a new stake in shares of Valero Energy in the second quarter worth about $31,000. Pathway Financial Advisers LLC acquired a new stake in shares of Valero Energy during the first quarter worth about $33,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Valero Energy during the 3rd quarter valued at about $34,000. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Down 3.3 %

Shares of NYSE:VLO traded down $4.38 during midday trading on Tuesday, hitting $127.88. The stock had a trading volume of 3,833,134 shares, compared to its average volume of 2,987,882. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The business's 50-day simple moving average is $137.62 and its 200-day simple moving average is $149.13. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79. The company has a market cap of $40.97 billion, a P/E ratio of 11.47, a PEG ratio of 3.45 and a beta of 1.39.

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 the consensus estimate of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.01%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period in the previous year, the business earned $7.49 EPS. Valero Energy's revenue for the quarter was down 14.4% compared to the same quarter last year. On average, sell-side analysts forecast that Valero Energy Co. will post 9.6 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.35%. Valero Energy's payout ratio is 38.39%.

Analyst Ratings Changes

A number of research analysts have weighed in on VLO shares. Mizuho cut their price target on shares of Valero Energy from $175.00 to $171.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. TD Cowen cut their price objective on shares of Valero Energy from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on Valero Energy from $172.00 to $151.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. BMO Capital Markets cut their price target on Valero Energy from $175.00 to $165.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, Piper Sandler downgraded Valero Energy from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $169.00 to $123.00 in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.53.

Valero Energy Company 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.