SouthState Corp Has $4.98 Million Stock Position in Valero Energy Co. (NYSE:VLO)

SouthState Corp lifted its position in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 7,599.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,652 shares of the oil and gas company's stock after buying an additional 40,124 shares during the quarter. SouthState Corp's holdings in Valero Energy were worth $4,984,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in Valero Energy by 21.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,693 shares of the oil and gas company's stock valued at $904,000 after acquiring an additional 1,192 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Valero Energy by 5.1% during the 3rd quarter. CIBC Asset Management Inc now owns 59,216 shares of the oil and gas company's stock worth $7,996,000 after purchasing an additional 2,887 shares during the period. Natixis Advisors LLC increased its position in Valero Energy by 9.0% during the 3rd quarter. Natixis Advisors LLC now owns 176,431 shares of the oil and gas company's stock worth $23,823,000 after purchasing an additional 14,616 shares in the last quarter. Sather Financial Group Inc purchased a new position in Valero Energy in the third quarter valued at approximately $431,000. Finally, GoalVest Advisory LLC lifted its position in Valero Energy by 7.7% during the third quarter. GoalVest Advisory LLC now owns 7,024 shares of the oil and gas company's stock valued at $948,000 after buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

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Valero Energy Stock Performance

Shares of Valero Energy stock traded up $1.16 during trading on Thursday, reaching $135.00. The company's stock had a trading volume of 2,857,993 shares, compared to its average volume of 2,763,720. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The business's fifty day moving average price is $133.68 and its 200-day moving average price is $133.58.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, equities research analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current 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 issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, January 30th. This is a positive change from Valero Energy's previous quarterly dividend of $1.07. Valero Energy's dividend payout ratio (DPR) is presently 53.30%.

Wall Street Analyst Weigh In

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

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.