Valero Energy Co. (NYSE:VLO) Stock Position Reduced by Harbour Investments Inc.

Harbour Investments Inc. cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,834 shares of the oil and gas company’s stock after selling 171 shares during the period. Harbour Investments Inc.’s holdings in Valero Energy were worth $347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in Valero Energy during the fourth quarter valued at approximately $25,000. Tobam purchased a new position in Valero Energy during the fourth quarter valued at approximately $30,000. True Wealth Design LLC grew its position in Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Valero Energy in the fourth quarter valued at approximately $38,000. Finally, OFI Invest Asset Management acquired a new stake in Valero Energy in the fourth quarter valued at approximately $37,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VLO has been the subject of a number of analyst reports. Mizuho reduced their target price 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. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler reduced their target price on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.08.

Valero Energy Price Performance

NYSE:VLO opened at $131.42 on Friday. The stock has a market cap of $41.39 billion, a P/E ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The company has a fifty day moving average price of $133.96 and a 200 day moving average price of $133.48. 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 released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 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%. Analysts anticipate that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s payout ratio is 53.30%.

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.