Primecap Management Co. CA Reduces Stock Position in Valero Energy Co. (NYSE:VLO)

Primecap Management Co. CA decreased its stake in shares of Valero Energy Co. (NYSE:VLO) by 35.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,870 shares of the oil and gas company’s stock after selling 77,395 shares during the quarter. Primecap Management Co. CA’s holdings in Valero Energy were worth $18,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Private Wealth Advisors LLC grew its stake in shares of Valero Energy by 3.4% in the 2nd quarter. International Private Wealth Advisors LLC now owns 1,970 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 65 shares during the period. OmniStar Financial Group Inc. increased its stake in Valero Energy by 1.6% during the second quarter. OmniStar Financial Group Inc. now owns 4,543 shares of the oil and gas company’s stock worth $712,000 after acquiring an additional 70 shares during the last quarter. Everhart Financial Group Inc. raised its position in Valero Energy by 5.5% in the second quarter. Everhart Financial Group Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 71 shares during the period. St. Johns Investment Management Company LLC lifted its stake in shares of Valero Energy by 1.4% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 5,068 shares of the oil and gas company’s stock valued at $794,000 after purchasing an additional 72 shares during the last quarter. Finally, Magnus Financial Group LLC grew its holdings in shares of Valero Energy by 4.3% during the 2nd quarter. Magnus Financial Group LLC now owns 1,752 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $140.87 on Friday. Valero Energy Co. has a 1-year low of $120.21 and a 1-year high of $184.79. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock’s 50-day moving average is $136.59 and its two-hundred day moving average is $145.97.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The firm had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period in the prior year, the firm earned $7.49 earnings per share. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. Analysts forecast that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.04%. Valero Energy’s dividend payout ratio (DPR) is currently 38.39%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup decreased their target price on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $172.00 to $165.00 in a report on Wednesday, October 9th. The Goldman Sachs Group dropped their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Scotiabank lowered their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus price target of $155.86.

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.