Westchester Capital Management Inc. Decreases Holdings in Valero Energy Co. (NYSE:VLO)

Westchester Capital Management Inc. lowered its stake in Valero Energy Co. (NYSE:VLO) by 2.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,268 shares of the oil and gas company’s stock after selling 2,269 shares during the period. Valero Energy makes up 2.7% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Westchester Capital Management Inc.’s holdings in Valero Energy were worth $10,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VLO. New Wave Wealth Advisors LLC acquired a new stake in Valero Energy during the fourth quarter valued at $25,000. Peterson Financial Group Inc. purchased a new position in Valero Energy during the third quarter worth about $28,000. Tobam purchased a new position in Valero Energy during the fourth quarter worth about $30,000. True Wealth Design LLC raised its stake in shares of 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 valued at $37,000 after acquiring an additional 183 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $123.05 on Wednesday. The stock has a market cap of $38.76 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. The company’s 50-day moving average price is $132.92 and its 200 day moving average price is $134.06. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

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, 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%. As a group, research analysts forecast that Valero Energy Co. will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were issued a $1.13 dividend. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 annualized dividend and a yield of 3.67%. Valero Energy’s dividend payout ratio (DPR) is presently 53.30%.

Analyst Ratings Changes

A number of research firms have recently issued reports on VLO. Wells Fargo & Company reduced 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 note on Friday, January 31st. Piper Sandler dropped their price objective on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Mizuho lowered their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.