Corebridge Financial Inc. Cuts Stock Holdings in Valero Energy Co. (NYSE:VLO)

Corebridge Financial Inc. lessened its position in Valero Energy Co. (NYSE:VLO) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,177 shares of the oil and gas company’s stock after selling 4,400 shares during the quarter. Corebridge Financial Inc.’s holdings in Valero Energy were worth $9,829,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. boosted its stake in Valero Energy by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 123,356 shares of the oil and gas company’s stock worth $14,751,000 after purchasing an additional 455 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Valero Energy during the fourth quarter worth about $1,226,000. Hudson Capital Management LLC grew its stake in Valero Energy by 6.5% during the 4th quarter. Hudson Capital Management LLC now owns 31,792 shares of the oil and gas company’s stock valued at $3,897,000 after acquiring an additional 1,937 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in Valero Energy in the 4th quarter valued at about $274,000. Finally, Captrust Financial Advisors lifted its stake in Valero Energy by 7.5% in the 3rd 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 in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO stock opened at $134.50 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The firm has a market cap of $42.36 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.93 and a beta of 1.36. The firm’s 50 day moving average price is $133.81 and its 200-day moving average price is $133.35. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, equities research analysts predict that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were 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 3.36%. The ex-dividend date of this dividend was Thursday, January 30th. Valero Energy’s payout ratio is currently 53.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Mizuho cut their target price on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report 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 on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.67.

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.