KLP Kapitalforvaltning AS Buys Shares of 220,261 Valero Energy Co. (NYSE:VLO)

KLP Kapitalforvaltning AS bought a new position in Valero Energy Co. (NYSE:VLO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 220,261 shares of the oil and gas company’s stock, valued at approximately $27,002,000. KLP Kapitalforvaltning AS owned approximately 0.07% of Valero Energy at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in Valero Energy by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,701,232 shares of the oil and gas company’s stock worth $1,311,864,000 after buying an additional 413,963 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Valero Energy by 5.6% in the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock worth $639,268,000 after acquiring an additional 247,630 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Valero Energy by 13.6% during the fourth quarter. Pacer Advisors Inc. now owns 4,072,188 shares of the oil and gas company’s stock valued at $499,210,000 after purchasing an additional 487,022 shares during the last quarter. Wellington Management Group LLP lifted its position in Valero Energy by 4,908.0% during the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after purchasing an additional 2,793,607 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its holdings in Valero Energy by 6.3% in the third quarter. Montrusco Bolton Investments Inc. now owns 2,533,434 shares of the oil and gas company’s stock worth $342,090,000 after purchasing an additional 151,200 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $131.42 on Friday. The firm’s 50 day simple moving average is $133.96 and its two-hundred day simple moving average is $133.43. 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 company has a market capitalization of $41.39 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping 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%. Research analysts expect that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 annualized dividend and a dividend yield of 3.44%. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

Wall Street Analyst Weigh In

VLO has been the subject of a number of research reports. 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 price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler dropped their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Mizuho reduced their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.08.

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.