Valero Energy Co. (NYSE:VLO) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp grew its holdings in Valero Energy Co. (NYSE:VLO - Free Report) by 43.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,642 shares of the oil and gas company's stock after buying an additional 6,272 shares during the quarter. Synovus Financial Corp's holdings in Valero Energy were worth $2,787,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Valero Energy during the third quarter worth $342,000. Arvest Bank Trust Division acquired a new position in Valero Energy during the third quarter worth about $7,609,000. World Investment Advisors LLC grew its stake in Valero Energy by 34.7% during the 3rd quarter. World Investment Advisors LLC now owns 4,245 shares of the oil and gas company's stock valued at $573,000 after acquiring an additional 1,093 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Valero Energy by 5.4% in the third quarter. Sanctuary Advisors LLC now owns 132,451 shares of the oil and gas company's stock valued at $18,664,000 after purchasing an additional 6,844 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of Valero Energy by 13.1% in the third quarter. Anchor Investment Management LLC now owns 11,820 shares of the oil and gas company's stock valued at $1,596,000 after purchasing an additional 1,370 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Down 0.4 %

Shares of VLO stock traded down $0.54 on Friday, reaching $129.14. 1,717,977 shares of the stock were exchanged, compared to its average volume of 2,252,146. Valero Energy Co. has a twelve month low of $124.02 and a twelve month 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 company has a market capitalization of $40.88 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.43 and a beta of 1.39. The business's 50 day moving average price is $136.27 and its 200 day moving average price is $143.27.

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, 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 13.07%. The business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter in the previous year, the firm earned $7.49 EPS. The company's revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that Valero Energy Co. will post 8.86 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.31%. Valero Energy's dividend payout ratio (DPR) is presently 38.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VLO shares. Mizuho lowered 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 report on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Valero Energy from $165.00 to $160.00 and set an "overweight" rating on the stock in a report on Monday, December 9th. Bank of America began coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a "neutral" rating and a $150.00 price target for the company. Piper Sandler cut Valero Energy from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $169.00 to $123.00 in a report on Friday, September 20th. Finally, Citigroup cut their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $155.50.

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.