Valero Energy Co. (NYSE:VLO) Holdings Raised by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its position in Valero Energy Co. (NYSE:VLO) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,478 shares of the oil and gas company’s stock after buying an additional 4,735 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Valero Energy were worth $10,057,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy in the 2nd quarter valued at about $15,945,000. Allspring Global Investments Holdings LLC lifted its position in Valero Energy by 1.8% in the 3rd 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 buying an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of Valero Energy during the 2nd quarter valued at $535,000. UniSuper Management Pty Ltd increased its stake in shares of Valero Energy by 223.1% in the first quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company’s stock worth $1,843,000 after acquiring an additional 7,455 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Valero Energy by 23.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 42,716 shares of the oil and gas company’s stock worth $6,696,000 after acquiring an additional 8,198 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Trading Down 3.3 %

VLO opened at $127.88 on Wednesday. Valero Energy Co. has a 1-year low of $119.88 and a 1-year high of $184.79. The stock has a market capitalization of $40.97 billion, a PE ratio of 11.47, a PEG ratio of 3.45 and a beta of 1.39. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $137.62 and a two-hundred day moving average price of $149.13.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The firm had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a net margin of 2.74% and a return on equity of 13.01%. Valero Energy’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.49 EPS. As a group, equities analysts anticipate that Valero Energy Co. will post 9.6 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.35%. Valero Energy’s payout ratio is presently 38.39%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company raised Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $172.00 to $165.00 in a research report on Wednesday, October 9th. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. Barclays cut their price objective on shares of Valero Energy from $165.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Scotiabank lowered their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group cut their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.53.

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.