ProVise Management Group LLC Decreases Stock Position in Valero Energy Co. (NYSE:VLO)

ProVise Management Group LLC reduced its stake in Valero Energy Co. (NYSE:VLO - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,441 shares of the oil and gas company's stock after selling 3,049 shares during the period. ProVise Management Group LLC's holdings in Valero Energy were worth $667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Asset Management SPA SGR bought a new stake in Valero Energy during the 4th quarter valued at about $4,098,000. Horizon Investments LLC grew its holdings in shares of Valero Energy by 3.5% during the fourth quarter. Horizon Investments LLC now owns 5,362 shares of the oil and gas company's stock valued at $652,000 after buying an additional 179 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Valero Energy by 1.2% during the fourth quarter. Advisors Asset Management Inc. now owns 80,820 shares of the oil and gas company's stock valued at $9,908,000 after acquiring an additional 992 shares in the last quarter. Kennondale Capital Management LLC bought a new stake in shares of Valero Energy during the fourth quarter valued at approximately $714,000. Finally, RD Lewis Holdings Inc. purchased a new position in Valero Energy in the 4th quarter worth approximately $305,000. 78.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on VLO shares. Wells Fargo & Company reduced their target price on Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Piper Sandler reduced their price objective on Valero Energy from $149.00 to $144.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Mizuho lowered their target price on shares of Valero Energy from $165.00 to $158.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 8th. Finally, Tudor Pickering upgraded shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.08.

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Valero Energy Stock Performance

Valero Energy stock traded up $0.49 during trading on Monday, reaching $132.00. The company had a trading volume of 4,497,077 shares, compared to its average volume of 2,772,591. The firm's 50-day simple moving average is $133.96 and its 200 day simple moving average is $133.38. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. 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 has a market capitalization of $41.58 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Sell-side analysts forecast that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.42%. This is an increase from Valero Energy's previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, January 30th. Valero Energy's dividend payout ratio (DPR) is presently 53.30%.

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.