Westchester Capital Management Inc. Sells 2,269 Shares of Valero Energy Co. (NYSE:VLO)

Westchester Capital Management Inc. lowered its stake in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,268 shares of the oil and gas company's stock after selling 2,269 shares during the quarter. Valero Energy comprises approximately 2.7% of Westchester Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position. Westchester Capital Management Inc.'s holdings in Valero Energy were worth $10,576,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of VLO. Charles Schwab Investment Management Inc. grew its stake in shares of Valero Energy by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,701,232 shares of the oil and gas company's stock valued at $1,311,864,000 after buying an additional 413,963 shares during the period. Franklin Resources Inc. raised its stake in shares of Valero Energy by 5.6% during the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company's stock valued at $639,268,000 after acquiring an additional 247,630 shares during the last quarter. Pacer Advisors Inc. raised its stake in Valero Energy by 13.6% in the fourth quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company's stock worth $499,210,000 after buying an additional 487,022 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Valero Energy by 4,908.0% during 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 purchasing an additional 2,793,607 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its holdings in Valero Energy by 6.3% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 2,533,434 shares of the oil and gas company's stock worth $342,090,000 after acquiring an additional 151,200 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Down 3.0 %

Shares of NYSE VLO opened at $123.05 on Wednesday. The firm's 50-day moving average price is $132.92 and its 200-day moving average price is $134.06. 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 stock has a market capitalization of $38.76 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a 12-month low of $116.84 and a 12-month high of $184.79.

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Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. On average, equities research analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were paid a $1.13 dividend. This is an increase from Valero Energy's previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Thursday, January 30th. Valero Energy's dividend payout ratio is currently 53.30%.

Analyst Upgrades and Downgrades

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

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