Valero Energy Co. (NYSE:VLO) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC cut its position in shares of Valero Energy Co. (NYSE:VLO) by 39.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,634 shares of the oil and gas company’s stock after selling 9,416 shares during the quarter. Convergence Investment Partners LLC’s holdings in Valero Energy were worth $1,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Valero Energy in the fourth quarter worth about $25,000. Peterson Financial Group Inc. purchased a new stake in shares of Valero Energy in the third quarter worth about $28,000. Tobam purchased a new stake in shares of Valero Energy in the fourth quarter worth about $30,000. True Wealth Design LLC boosted its position in shares of Valero Energy by 196.8% in the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after buying an additional 183 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Valero Energy in the third quarter worth about $38,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Up 2.2 %

VLO opened at $138.23 on Wednesday. Valero Energy Co. has a 12 month low of $116.84 and a 12 month high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market cap of $43.76 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.85 and a beta of 1.42. The stock’s 50 day moving average price is $130.69 and its 200 day moving average price is $135.93.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, research 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 announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be given a $1.13 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, January 30th. Valero Energy’s dividend payout ratio (DPR) is currently 53.30%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Barclays reduced their price target on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Citigroup reduced their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, TD Cowen reduced their price target on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.46.

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.