Valero Energy Co. (NYSE:VLO) Position Lessened by Neo Ivy Capital Management

Neo Ivy Capital Management decreased its stake in Valero Energy Co. (NYSE:VLO) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,482 shares of the oil and gas company’s stock after selling 2,066 shares during the period. Neo Ivy Capital Management’s holdings in Valero Energy were worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Valero Energy by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after acquiring an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Valero Energy during the 2nd quarter valued at $535,000. Captrust Financial Advisors increased its position in shares of Valero Energy by 7.5% during the 3rd quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company’s stock valued at $12,121,000 after purchasing an additional 6,278 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of Valero Energy by 136.1% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company’s stock valued at $10,143,000 after purchasing an additional 43,299 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Valero Energy by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after purchasing an additional 192,397 shares during the period. Institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $132.34 on Wednesday. Valero Energy Co. has a 1-year low of $120.21 and a 1-year high of $184.79. 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 company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.47 and a beta of 1.40. The stock’s fifty day simple moving average is $136.97 and its 200-day simple moving average is $144.03.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. 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 firm earned $7.49 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.23%. Valero Energy’s dividend payout ratio is currently 38.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VLO. Wells Fargo & Company lowered their price target on Valero Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen decreased their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Mizuho decreased their target price on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. BMO Capital Markets decreased their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Barclays decreased their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Valero Energy 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.