CIBC Asset Management Inc Sells 6,386 Shares of Valero Energy Co. (NYSE:VLO)

CIBC Asset Management Inc reduced its position in shares of Valero Energy Co. (NYSE:VLO) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,830 shares of the oil and gas company’s stock after selling 6,386 shares during the quarter. CIBC Asset Management Inc’s holdings in Valero Energy were worth $6,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in Valero Energy during the fourth quarter valued at approximately $25,000. Peterson Financial Group Inc. bought a new stake in shares of Valero Energy during the 3rd quarter valued at $28,000. Tobam purchased a new stake in shares of Valero Energy in the 4th quarter worth $30,000. True Wealth Design LLC raised its holdings in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in Valero Energy during the third quarter valued at $38,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. TD Cowen dropped their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Citigroup reduced their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Barclays cut their price target on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Stock Performance

NYSE:VLO opened at $137.06 on Thursday. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.85 and a beta of 1.42. Valero Energy Co. has a 1 year low of $116.84 and a 1 year high of $184.79. The stock’s 50 day simple moving average is $130.76 and its two-hundred day simple moving average is $135.94. 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 quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, equities analysts anticipate that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be given a $1.13 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.52 annualized dividend and a yield of 3.30%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

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.