True North Advisors LLC Increases Stake in Valero Energy Co. (NYSE:VLO)

True North Advisors LLC raised its stake in shares of Valero Energy Co. (NYSE:VLO) by 69.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,944 shares of the oil and gas company’s stock after purchasing an additional 1,210 shares during the quarter. True North Advisors LLC’s holdings in Valero Energy were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in VLO. Allspring Global Investments Holdings LLC raised its stake in Valero Energy by 1.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock worth $174,673,000 after acquiring an additional 22,571 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Valero Energy in the fourth quarter valued at about $1,226,000. Captrust Financial Advisors raised its stake in shares of Valero Energy by 7.5% in 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 last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Valero Energy during the fourth quarter worth about $274,000. Finally, Occidental Asset Management LLC purchased a new stake in Valero Energy in the fourth quarter valued at approximately $319,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Trading Down 3.2 %

Shares of VLO stock opened at $135.00 on Thursday. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The firm has a market cap of $42.74 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 2.90 and a beta of 1.42. The company has a 50-day moving average of $131.36 and a two-hundred day moving average of $137.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter last year, the company posted $7.49 EPS. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. On average, analysts predict that Valero Energy Co. will post 7.93 EPS for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be given a $1.13 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, January 30th. Valero Energy’s payout ratio is currently 38.39%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VLO. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Citigroup decreased their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America started coverage on Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target on the stock. Mizuho dropped their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $154.57.

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.