Valero Energy Co. (NYSE:VLO) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Valero Energy Co. (NYSE:VLO - Free Report) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 885,640 shares of the oil and gas company's stock after selling 67,394 shares during the quarter. Victory Capital Management Inc. owned about 0.28% of Valero Energy worth $119,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bleakley Financial Group LLC increased its stake in Valero Energy by 3.9% during the 1st quarter. Bleakley Financial Group LLC now owns 8,287 shares of the oil and gas company's stock worth $1,415,000 after buying an additional 308 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Valero Energy by 15.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 44,243 shares of the oil and gas company's stock valued at $7,552,000 after purchasing an additional 5,839 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Valero Energy by 18.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 453,759 shares of the oil and gas company's stock worth $77,452,000 after purchasing an additional 71,147 shares during the last quarter. Angeles Wealth Management LLC acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $246,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Valero Energy by 14.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 403,073 shares of the oil and gas company's stock worth $68,801,000 after buying an additional 51,991 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Analysts Set New Price Targets

VLO has been the topic of several recent analyst reports. Piper Sandler cut shares of Valero Energy from an "overweight" rating to a "neutral" rating and cut their price target for the company from $169.00 to $123.00 in a report on Friday, September 20th. TD Cowen reduced their price target on shares of Valero Energy from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Bank of America began coverage on Valero Energy in a research note on Thursday, October 17th. They set a "neutral" rating and a $150.00 price objective on the stock. BMO Capital Markets lowered their price target on Valero Energy from $175.00 to $165.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. One equities 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.86.

Valero Energy Stock Performance

Valero Energy stock traded up $2.53 during midday trading on Wednesday, reaching $139.55. 2,303,974 shares of the stock traded hands, compared to its average volume of 2,953,941. The firm has a fifty day moving average price of $135.63 and a two-hundred day moving average price of $146.80. Valero Energy Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 2.51 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

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 (EPS) for the quarter, topping analysts' consensus estimates 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%. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.49 EPS. On average, equities research analysts forecast that Valero Energy Co. will post 9.1 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, November 20th. Valero Energy's payout ratio is currently 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.