Valero Energy Co. (NYSE:VLO) Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its stake in shares of Valero Energy Co. (NYSE:VLO) by 9.1% during the third quarter, Holdings Channel.com reports. The fund owned 21,050 shares of the oil and gas company’s stock after purchasing an additional 1,757 shares during the period. Atlantic Union Bankshares Corp’s holdings in Valero Energy were worth $2,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy during the 2nd quarter valued at $15,945,000. Allspring Global Investments Holdings LLC raised its position in Valero Energy by 1.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock worth $174,673,000 after acquiring an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in Valero Energy in the 2nd quarter valued at about $535,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Valero Energy by 23.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock valued at $6,696,000 after purchasing an additional 8,198 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Valero Energy by 66.0% in the 2nd quarter. GAMMA Investing LLC now owns 8,781 shares of the oil and gas company’s stock worth $1,377,000 after purchasing an additional 3,492 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research reports. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Mizuho reduced their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group cut their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Citigroup decreased their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Barclays cut their price objective on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Stock Up 0.3 %

Valero Energy stock opened at $139.02 on Friday. Valero Energy Co. has a twelve month low of $120.21 and a twelve month high of $184.79. 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 $44.01 billion, a PE ratio of 12.47, a P/E/G ratio of 2.59 and a beta of 1.39. The firm’s 50 day moving average price is $136.92 and its two-hundred day moving average price is $145.35.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. Valero Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.49 earnings per share. On average, research analysts predict that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.08%. Valero Energy’s dividend payout ratio is 38.39%.

About Valero Energy

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.