Azimuth Capital Investment Management LLC Reduces Position in Valero Energy Co. (NYSE:VLO)

Azimuth Capital Investment Management LLC lowered its position in Valero Energy Co. (NYSE:VLOFree Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,247 shares of the oil and gas company’s stock after selling 2,407 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Valero Energy were worth $2,632,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VLO. Morgan Stanley grew its stake in shares of Valero Energy by 6.1% in the 3rd quarter. Morgan Stanley now owns 8,961,603 shares of the oil and gas company’s stock valued at $1,269,949,000 after buying an additional 517,068 shares during the period. Norges Bank purchased a new stake in shares of Valero Energy in the 4th quarter valued at approximately $570,428,000. Northern Trust Corp grew its stake in shares of Valero Energy by 3.2% in the 3rd quarter. Northern Trust Corp now owns 3,899,875 shares of the oil and gas company’s stock valued at $552,651,000 after buying an additional 121,057 shares during the period. Pacer Advisors Inc. grew its stake in shares of Valero Energy by 14.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,788,994 shares of the oil and gas company’s stock valued at $362,569,000 after buying an additional 342,218 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of Valero Energy by 18.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 2,389,654 shares of the oil and gas company’s stock worth $310,655,000 after purchasing an additional 376,449 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insider Activity

In other news, Director Kimberly S. Greene sold 720 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $158.12, for a total value of $113,846.40. Following the completion of the transaction, the director now owns 13,314 shares of the company’s stock, valued at $2,105,209.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company reduced their price objective on shares of Valero Energy from $184.00 to $179.00 and set an “equal weight” rating on the stock in a report on Thursday. UBS Group raised their price objective on shares of Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Piper Sandler lowered their price objective on shares of Valero Energy from $198.00 to $187.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Finally, Bank of America raised shares of Valero Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $156.00 to $210.00 in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and an average target price of $173.53.

Check Out Our Latest Research Report on Valero Energy

Valero Energy Price Performance

VLO traded down $1.34 during midday trading on Friday, reaching $154.43. 1,951,933 shares of the company’s stock were exchanged, compared to its average volume of 3,128,713. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.10. The stock has a market capitalization of $50.50 billion, a PE ratio of 7.65, a P/E/G ratio of 1.44 and a beta of 1.47. The business’s 50-day moving average price is $163.99 and its 200 day moving average price is $147.24. Valero Energy Co. has a 1-year low of $108.28 and a 1-year high of $184.79.

Valero Energy (NYSE:VLOGet Free Report) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. The company had revenue of $31.76 billion during the quarter, compared to analysts’ expectations of $32.02 billion. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.27 earnings per share. As a group, equities analysts anticipate that Valero Energy Co. will post 17.82 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 30th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, May 30th. Valero Energy’s dividend payout ratio is presently 21.20%.

Valero Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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