Nomura Asset Management Co. Ltd. Grows Stake in Valero Energy Co. (NYSE:VLO)

Nomura Asset Management Co. Ltd. raised its position in Valero Energy Co. (NYSE:VLO) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,908 shares of the oil and gas company’s stock after buying an additional 4,338 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Valero Energy were worth $18,217,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC increased its position in shares of Valero Energy by 6.9% during the third quarter. Orion Portfolio Solutions LLC now owns 22,188 shares of the oil and gas company’s stock worth $2,996,000 after purchasing an additional 1,438 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Valero Energy in the third quarter worth about $2,574,000. Zacks Investment Management boosted its position in Valero Energy by 16.5% during the third quarter. Zacks Investment Management now owns 4,246 shares of the oil and gas company’s stock worth $573,000 after acquiring an additional 600 shares during the last quarter. National Bank of Canada FI grew its stake in Valero Energy by 39.1% during the 3rd quarter. National Bank of Canada FI now owns 150,894 shares of the oil and gas company’s stock valued at $20,375,000 after acquiring an additional 42,410 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in Valero Energy by 5.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 181,720 shares of the oil and gas company’s stock worth $24,538,000 after purchasing an additional 10,197 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on VLO. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Mizuho cut their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America initiated coverage on shares of Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Wells Fargo & Company decreased their price objective on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Valero Energy Trading Down 1.6 %

NYSE:VLO opened at $132.34 on Wednesday. Valero Energy Co. has a 12-month low of $120.21 and a 12-month high of $184.79. The firm has a market cap of $41.90 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $136.97 and a 200 day moving average price of $144.03.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter last year, the business posted $7.49 EPS. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. Sell-side analysts anticipate that Valero Energy Co. will post 8.89 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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 issued a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.23%. Valero Energy’s payout ratio is 38.39%.

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.