OVERSEA CHINESE BANKING Corp Ltd Sells 4,062 Shares of Valero Energy Co. (NYSE:VLO)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 54.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,402 shares of the oil and gas company's stock after selling 4,062 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Valero Energy were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in Valero Energy during the 2nd quarter worth $15,945,000. Allspring Global Investments Holdings LLC raised its stake in shares of Valero Energy by 1.8% during the 3rd 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 purchasing an additional 22,571 shares during the period. 180 Wealth Advisors LLC bought a new stake in shares of Valero Energy during the 2nd quarter worth $535,000. UniSuper Management Pty Ltd raised its stake in shares of Valero Energy by 223.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company's stock worth $1,843,000 after purchasing an additional 7,455 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Valero Energy by 23.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company's stock worth $6,696,000 after purchasing an additional 8,198 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on VLO shares. Wolfe Research assumed coverage on Valero Energy in a research note on Thursday, July 18th. They set an "outperform" rating and a $177.00 target price on the stock. Barclays lowered their price objective on Valero Energy from $146.00 to $140.00 and set an "overweight" rating on the stock in a research note on Monday. The Goldman Sachs Group lowered their price objective on Valero Energy from $149.00 to $131.00 and set a "sell" rating on the stock in a research note on Monday, September 16th. Bank of America started coverage on Valero Energy in a research report on Thursday, October 17th. They set a "neutral" rating and a $150.00 price target on the stock. Finally, Mizuho decreased their price target on Valero Energy from $175.00 to $171.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.86.

Valero Energy Price Performance

VLO traded down $0.47 during midday trading on Thursday, hitting $139.09. The stock had a trading volume of 1,111,593 shares, compared to its average volume of 2,945,959. The company has a market cap of $44.03 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 2.51 and a beta of 1.39. The business has a fifty day moving average of $135.62 and a 200 day moving average of $146.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 1 year low of $120.21 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.49 earnings per share. As a group, equities analysts forecast that Valero Energy Co. will post 9.1 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy's dividend payout ratio (DPR) is presently 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.