Treasurer of the State of North Carolina Sells 20,583 Shares of Valero Energy Co. (NYSE:VLO)
In the fourth quarter, the Treasurer of the State of North Carolina reduced its investment in Valero Energy Co. (NYSE:VLO) by 12.9%, as shown in the company’s latest filing with the Securities & Exchange Commission. By the end of the quarter, the institutional investor held 138,832 shares of the oil and gas company’s stock after selling 20,583 shares. These holdings were valued at $17,019,000 at the end of the most recent quarter.
Other significant investors have also made changes in their holdings in the company. For instance, Scotia Capital Inc. increased its position in Valero Energy by 3.0% in the fourth quarter. It now holds 21,295 shares worth $2,611,000 after acquiring an additional 626 shares during the period. Similarly, Bessemer Group Inc. grew its stake by 18.9%, now owning 20,106 shares valued at $2,465,000 after adding 3,200 shares in the last quarter.
DRW Securities LLC initiated a new position in Valero Energy during the fourth quarter, worth approximately $1,492,000. Meanwhile, Texas Yale Capital Corp. expanded its holdings by 18.2%, owning 55,078 shares worth $6,752,000 after purchasing an additional 8,500 shares. Barometer Capital Management Inc. also acquired a new stake valued at around $1,134,000. Currently, institutional investors and hedge funds collectively own 78.69% of the company’s stock.
Valero Energy’s shares opened at $110.59 on Friday. The company’s 50-day simple moving average is $127.99, and its 200-day simple moving average is $131.73. Valero Energy Co. experienced a 1-year low of $99.00 and a 1-year high of $178.39. The company carries a debt-to-equity ratio of 0.35, a current ratio of 1.57, and a quick ratio of 1.11. Its market capitalization is $34.83 billion, with a P/E ratio of 13.04, a P/E/G ratio of 2.93, and a beta of 1.17.
Valero Energy released its earnings results on January 30th. It reported an earnings per share (EPS) of $0.64, surpassing the consensus estimate of $0.14 by $0.50. The company experienced a return on equity of 9.58% and a net margin of 2.13%. Research analysts anticipate that Valero Energy Co. will post an EPS of 7.92 for the current fiscal year.
The company recently announced a quarterly dividend, paid on March 3rd. Stockholders of record as of January 30th received a dividend of $1.13 per share—an increase from the previous rate of $1.07—representing a $4.52 annualized dividend and a dividend yield of 4.09%. Valero Energy’s payout ratio stands at 53.30%.
A range of research analysts have recently offered insights on VLO shares. Scotiabank reduced its target price from $156.00 to $136.00 but maintained a “sector outperform” rating. Mizuho also decreased its price objective from $165.00 to $158.00, with an “outperform” rating. Meanwhile, Raymond James adjusted its price objective from $165.00 to $155.00, assigning a “strong-buy” rating. Wells Fargo & Company set an “overweight” rating with a slightly reduced price target from $160.00 to $159.00. Tudor Pickering upgraded the stock from a “hold” to a “strong-buy” rating.
In total, one analyst rated the stock as a sell, three as hold, ten as buy, and two as strong buy. Valero Energy presently holds a consensus rating of “Moderate Buy” and a consensus price target of $152.46.
Valero Energy Corporation is a distinguished player in the manufacture, marketing, and sale of petroleum-based and low-carbon liquid transportation fuels and petrochemical products. Its operations extend across the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and other international markets. The company operates through three segments: Refining, Renewable Diesel, and Ethanol.
