Nikko Asset Management Americas Inc. Cuts Position in Valero Energy Co. (NYSE:VLO)

Nikko Asset Management Americas Inc. lowered its holdings in shares of Valero Energy Co. (NYSE:VLO) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,720 shares of the oil and gas company’s stock after selling 295 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Valero Energy were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VLO. New Wave Wealth Advisors LLC acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $25,000. Tobam acquired a new position in Valero Energy during the fourth quarter worth $30,000. True Wealth Design LLC lifted its holdings in Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $37,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Valero Energy during the fourth quarter worth about $38,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VLO shares. Wells Fargo & Company lowered their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Piper Sandler lowered their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Mizuho decreased their price objective on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.08.

Valero Energy Trading Up 3.0 %

Shares of VLO stock opened at $133.03 on Tuesday. Valero Energy Co. has a twelve month low of $116.84 and a twelve month high of $184.79. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 2.93 and a beta of 1.36. The company’s 50-day moving average price is $133.34 and its 200-day moving average price is $133.68. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating 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%. As a group, equities 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 was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were paid a dividend of $1.13 per share. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 annualized dividend and a yield of 3.40%. Valero Energy’s dividend payout ratio (DPR) is 53.30%.

Valero Energy Company 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.