Red Cedar Investment Management LLC Sells 5,076 Shares of Valero Energy Co. (NYSE:VLO)

Red Cedar Investment Management LLC lessened its position in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 23.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,390 shares of the oil and gas company's stock after selling 5,076 shares during the quarter. Red Cedar Investment Management LLC's holdings in Valero Energy were worth $2,213,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its position in Valero Energy by 2.8% during 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. Dimensional Fund Advisors LP lifted its holdings in Valero Energy by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company's stock valued at $677,007,000 after buying an additional 237,347 shares during the period. Pacer Advisors Inc. boosted its stake in Valero Energy by 1.9% in the second quarter. Pacer Advisors Inc. now owns 3,018,107 shares of the oil and gas company's stock valued at $473,118,000 after acquiring an additional 56,989 shares during the last quarter. Legal & General Group Plc grew its holdings in Valero Energy by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company's stock worth $440,394,000 after acquiring an additional 82,539 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Valero Energy by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,063,923 shares of the oil and gas company's stock valued at $352,292,000 after purchasing an additional 65,632 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VLO shares. Citigroup decreased their price objective on Valero Energy from $192.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Wells Fargo & Company raised Valero Energy from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $172.00 to $165.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of Valero Energy from $172.00 to $151.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of Valero Energy from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, Piper Sandler cut shares of Valero Energy from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.29.

Valero Energy Stock Performance

Shares of NYSE VLO traded up $1.73 during midday trading on Monday, hitting $129.95. 2,420,474 shares of the company's stock were exchanged, compared to its average volume of 2,979,245. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79. The company's 50 day moving average price is $136.43 and its 200 day moving average price is $148.06. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $41.63 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.32 and a beta of 1.39.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company's revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.49 earnings per share. As a group, analysts predict that Valero Energy Co. will post 9.32 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.29%. Valero Energy's payout ratio is currently 38.39%.

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.