Citizens Financial Group Inc RI reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,190 shares of the oil and gas company’s stock after selling 536 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Valero Energy were worth $190,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Adell Harriman & Carpenter Inc. raised its position in Valero Energy by 11.1% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 62,968 shares of the oil and gas company’s stock valued at $5,897,000 after purchasing an additional 6,300 shares during the last quarter. Belpointe Asset Management LLC grew its stake in Valero Energy by 80.8% during the fourth quarter. Belpointe Asset Management LLC now owns 13,362 shares of the oil and gas company’s stock worth $1,252,000 after purchasing an additional 5,970 shares during the period. NumerixS Investment Technologies Inc grew its stake in Valero Energy by 1,088.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 27,323 shares of the oil and gas company’s stock worth $2,559,000 after purchasing an additional 25,023 shares during the period. Macquarie Group Ltd. grew its stake in Valero Energy by 19.5% during the fourth quarter. Macquarie Group Ltd. now owns 30,221 shares of the oil and gas company’s stock worth $2,829,000 after purchasing an additional 4,933 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in Valero Energy during the fourth quarter worth approximately $36,317,000. Institutional investors and hedge funds own 78.51% of the company’s stock.
A number of equities research analysts have commented on the company. Credit Suisse Group raised their price objective on Valero Energy from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Royal Bank of Canada reissued a “buy” rating and issued a $102.00 price objective on shares of Valero Energy in a research note on Monday, February 3rd. Mizuho raised Valero Energy from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday, May 4th. Cfra cut Valero Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Piper Sandler raised Valero Energy from a “neutral” rating to an “overweight” rating and set a $97.00 price objective for the company in a research note on Thursday, March 12th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Valero Energy currently has a consensus rating of “Buy” and a consensus target price of $79.50.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.49. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.22 billion. Valero Energy had a return on equity of 10.51% and a net margin of 0.41%. Valero Energy’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. Analysts predict that Valero Energy Co. will post -1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, May 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.92 dividend on an annualized basis and a yield of 5.97%. Valero Energy’s dividend payout ratio (DPR) is currently 68.77%.
In other Valero Energy news, Director Randall J. Weisenburger purchased 45,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $47.31 per share, for a total transaction of $2,128,950.00. Following the completion of the acquisition, the director now owns 100,274 shares of the company’s stock, valued at approximately $4,743,962.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
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