Wellington Management Group LLP Acquires 2,793,607 Shares of Valero Energy Co. (NYSE:VLO)

Wellington Management Group LLP raised its stake in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 4,908.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,850,526 shares of the oil and gas company's stock after acquiring an additional 2,793,607 shares during the quarter. Wellington Management Group LLP owned approximately 0.90% of Valero Energy worth $384,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Valero Energy by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company's stock valued at $174,673,000 after buying an additional 22,571 shares during the last quarter. 180 Wealth Advisors LLC bought a new stake in Valero Energy in the second quarter worth $535,000. Captrust Financial Advisors boosted its position in Valero Energy by 7.5% during the third quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company's stock worth $12,121,000 after purchasing an additional 6,278 shares during the period. Ameriprise Financial Inc. grew its position in shares of Valero Energy by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company's stock valued at $1,090,532,000 after purchasing an additional 192,397 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its stake in Valero Energy by 136.1% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company's stock valued at $10,143,000 after purchasing an additional 43,299 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Valero Energy in a report on Thursday, October 17th. They issued a "neutral" rating and a $150.00 price target on the stock. Piper Sandler cut shares of Valero Energy from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Barclays lowered their price target on shares of Valero Energy from $146.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. The Goldman Sachs Group reduced their price target on Valero Energy from $149.00 to $131.00 and set a "sell" rating on the stock in a research report on Monday, September 16th. Finally, Citigroup reduced their target price on Valero Energy from $192.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Valero Energy has an average rating of "Moderate Buy" and a consensus target price of $155.86.

Valero Energy Stock Down 1.1 %

Shares of Valero Energy stock traded down $1.53 during trading hours on Friday, reaching $131.52. 1,984,251 shares of the company's stock were exchanged, compared to its average volume of 2,163,169. The stock has a market cap of $41.64 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.47 and a beta of 1.39. The company has a 50 day moving average of $136.98 and a two-hundred day moving average of $144.35. 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 Co. has a fifty-two week low of $120.21 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion during the quarter, compared to analysts' expectations of $31.04 billion. During the same period in the prior year, the firm posted $7.49 earnings per share. The business's quarterly revenue was down 14.4% compared to the same quarter last year. On average, sell-side analysts forecast that Valero Energy Co. will post 8.89 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, November 20th. Valero Energy's dividend payout ratio (DPR) 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.