Linscomb Wealth Inc. Decreases Stock Holdings in Valero Energy Co. (NYSE:VLO)

Linscomb Wealth Inc. lessened its holdings in Valero Energy Co. (NYSE:VLO) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 6,285 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Linscomb Wealth Inc.’s holdings in Valero Energy were worth $849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in Valero Energy in the second quarter valued at approximately $15,945,000. Allspring Global Investments Holdings LLC increased its stake in Valero Energy by 1.8% during 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 during the period. 180 Wealth Advisors LLC acquired a new position in Valero Energy in the 2nd quarter worth $535,000. UniSuper Management Pty Ltd boosted its position in Valero Energy by 223.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company’s stock valued at $1,843,000 after buying an additional 7,455 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake 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 valued at $6,696,000 after acquiring an additional 8,198 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank reduced their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. TD Cowen decreased their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Citigroup decreased their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $169.00 to $123.00 in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Stock Up 0.1 %

VLO opened at $140.16 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79. The stock’s 50 day moving average price is $135.83 and its 200 day moving average price is $146.51. The stock has a market cap of $44.37 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.56 and a beta of 1.39.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion for 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 13.07%. The company’s revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.49 earnings per share. As a group, research analysts predict that Valero Energy Co. will post 9.1 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

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.