Massachusetts Financial Services Co. MA Sells 481,989 Shares of Valero Energy Co. (NYSE:VLO)

Massachusetts Financial Services Co. MA lessened its stake in Valero Energy Co. (NYSE:VLO - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,668,087 shares of the oil and gas company's stock after selling 481,989 shares during the period. Massachusetts Financial Services Co. MA owned about 0.53% of Valero Energy worth $204,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of VLO. Norges Bank bought a new position in Valero Energy during the fourth quarter worth $669,400,000. Vanguard Group Inc. lifted its holdings in Valero Energy by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company's stock worth $4,257,024,000 after acquiring an additional 4,805,133 shares during the last quarter. Wellington Management Group LLP boosted its stake in Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company's stock valued at $384,907,000 after acquiring an additional 2,793,607 shares during the period. Raymond James Financial Inc. bought a new position in shares of Valero Energy during the fourth quarter valued at approximately $132,469,000. Finally, Prudential Financial Inc. raised its position in shares of Valero Energy by 159.3% during the 4th quarter. Prudential Financial Inc. now owns 850,161 shares of the oil and gas company's stock worth $104,221,000 after purchasing an additional 522,233 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

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Valero Energy Stock Up 1.7 %

VLO stock traded up $1.74 during trading hours on Monday, hitting $106.43. The company's stock had a trading volume of 6,630,913 shares, compared to its average volume of 2,937,591. The company has a market capitalization of $33.52 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. The stock has a 50 day moving average price of $131.94 and a two-hundred day moving average price of $132.92. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 12 month low of $98.26 and a 12 month high of $183.38.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping 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%. On average, equities research analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a $1.13 dividend. This is a positive change from Valero Energy's previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.25%. Valero Energy's dividend payout ratio (DPR) is currently 53.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VLO shares. Wells Fargo & Company reduced their target price on shares of Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Tudor Pickering raised Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Piper Sandler dropped their price target on shares of Valero Energy from $149.00 to $144.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Mizuho reduced their price objective on shares of Valero Energy from $165.00 to $158.00 and set an "outperform" rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Valero Energy has an average rating of "Moderate Buy" and a consensus price target of $152.67.

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.