Summit Global Investments Cuts Stock Position in Valero Energy Co. (NYSE:VLO)

Summit Global Investments cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,908 shares of the oil and gas company’s stock after selling 303 shares during the period. Summit Global Investments’ holdings in Valero Energy were worth $602,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Providence Wealth Advisors LLC increased its stake in Valero Energy by 0.9% during the 3rd quarter. Providence Wealth Advisors LLC now owns 8,784 shares of the oil and gas company’s stock worth $1,169,000 after buying an additional 75 shares during the period. Segment Wealth Management LLC increased its position in shares of Valero Energy by 1.7% during the fourth quarter. Segment Wealth Management LLC now owns 4,947 shares of the oil and gas company’s stock worth $606,000 after acquiring an additional 81 shares during the period. Silver Coast Investments LLC increased its position in shares of Valero Energy by 1.7% during the fourth quarter. Silver Coast Investments LLC now owns 5,070 shares of the oil and gas company’s stock worth $622,000 after acquiring an additional 83 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in Valero Energy by 2.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 4,687 shares of the oil and gas company’s stock worth $575,000 after purchasing an additional 90 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in Valero Energy by 6.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,514 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 94 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

Shares of VLO stock opened at $131.42 on Monday. The stock’s 50-day moving average is $133.96 and its two-hundred day moving average is $133.38. The firm has a market cap of $41.39 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. Valero Energy Co. has a 1 year low of $116.84 and a 1 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 earnings per share (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%. Analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were given a dividend of $1.13 per share. 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 3.44%. The ex-dividend date of this dividend was Thursday, January 30th. Valero Energy’s dividend payout ratio (DPR) is presently 53.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VLO. Piper Sandler cut 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. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective 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, Mizuho dropped their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.08.

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.