Heritage Wealth Management Inc. Sells 398 Shares of Valero Energy Co. (NYSE:VLO)

Heritage Wealth Management Inc. lowered its holdings in Valero Energy Co. (NYSE:VLO) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,252 shares of the oil and gas company’s stock after selling 398 shares during the period. Valero Energy comprises about 0.8% of Heritage Wealth Management Inc.’s portfolio, making the stock its 27th largest holding. Heritage Wealth Management Inc.’s holdings in Valero Energy were worth $2,360,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLO. New Wave Wealth Advisors LLC bought a new position in Valero Energy in the fourth quarter valued at $25,000. Peterson Financial Group Inc. bought a new position in Valero Energy in the third quarter valued at $28,000. Tobam bought a new position in shares of Valero Energy in the 4th quarter valued at about $30,000. True Wealth Design LLC grew its position in shares of Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 183 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Valero Energy in the 3rd quarter valued at about $38,000. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VLO. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Piper Sandler raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays reduced their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Mizuho reduced their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $130.59 on Friday. Valero Energy Co. has a twelve month low of $116.84 and a twelve month high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $132.06 and a two-hundred day simple moving average of $135.14. The stock has a market capitalization of $41.34 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.93 and a beta of 1.42.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. Analysts forecast that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be given a $1.13 dividend. The ex-dividend date is Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.46%. Valero Energy’s payout ratio is presently 53.30%.

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.