Valero Energy Co. (NYSE:VLO) Shares Sold by Synovus Financial Corp
Synovus Financial Corp reduced its stake in Valero Energy Co. (NYSE:VLO) by 27.1% in Q4, now holding 15,038 shares valued at $1.84 million. Other institutional investors also adjusted their positions. Valero's stock opened at $107.54, with a market cap of $33.87 billion and a PE ratio of 12.68. The company recently increased its quarterly dividend to $1.13, yielding 4.20%. Analysts have mixed ratings on the stock, with several raising their price targets.
Synovus Financial Corp trimmed its holdings in Valero Energy Co. (NYSE:VLO - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,038 shares of the oil and gas company's stock after selling 5,604 shares during the period. Synovus Financial Corp's holdings in Valero Energy were worth $1,844,000 as of its most recent SEC filing.
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Several other institutional investors and hedge funds also recently made changes to their positions in VLO. Advisors Capital Management LLC raised its stake in shares of Valero Energy by 6.1% in the 4th quarter. Advisors Capital Management LLC now owns 2,617 shares of the oil and gas company's stock valued at $321,000 after purchasing an additional 151 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Valero Energy during the 4th quarter worth approximately $219,000. Townsquare Capital LLC grew its position in shares of Valero Energy by 26.3% in the 4th quarter. Townsquare Capital LLC now owns 24,623 shares of the oil and gas company's stock worth $3,019,000 after acquiring an additional 5,134 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Valero Energy by 9.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 77,622 shares of the oil and gas company's stock valued at $9,520,000 after acquiring an additional 6,791 shares during the last quarter. Finally, Concorde Asset Management LLC raised its position in shares of Valero Energy by 10.1% during the 4th quarter. Concorde Asset Management LLC now owns 1,922 shares of the oil and gas company's stock valued at $236,000 after acquiring an additional 177 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy Stock Performance
VLO opened at $107.54 on Wednesday. The business has a fifty day simple moving average of $126.85 and a 200-day simple moving average of $131.35. The firm has a market cap of $33.87 billion, a PE ratio of 12.68, a P/E/G ratio of 2.93 and a beta of 1.17. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a fifty-two week low of $99.00 and a fifty-two week high of $171.23.
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Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts predict that Valero Energy Co. will post 7.92 EPS for the current fiscal year.
Valero Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Thursday, January 30th. This is an increase from Valero Energy's previous quarterly dividend of $1.07. Valero Energy's dividend payout ratio is 53.30%.
Wall Street Analysts Forecast Growth
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VLO has been the subject of a number of research reports. Tudor Pickering raised shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Scotiabank lowered their price objective on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Raymond James cut their target price on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lowered their target price on Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Mizuho dropped their price target on Valero Energy from $165.00 to $158.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.46.
View Our Latest Analysis on VLO
About Valero Energy
(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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