Maryland State Retirement & Pension System Cuts Stake in Valero Energy Co. (NYSE:VLO)

Maryland State Retirement & Pension System cut its stake in Valero Energy Co. (NYSE:VLO) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,856 shares of the oil and gas company’s stock after selling 1,831 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Valero Energy were worth $2,066,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its position in shares of Valero Energy by 126.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,649 shares of the oil and gas company’s stock worth $6,299,000 after acquiring an additional 26,044 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Valero Energy during the third quarter worth about $134,000. Prospera Financial Services Inc increased its position in shares of Valero Energy by 3.3% during the third quarter. Prospera Financial Services Inc now owns 11,350 shares of the oil and gas company’s stock worth $1,534,000 after acquiring an additional 363 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Valero Energy by 51.4% during the third quarter. Avior Wealth Management LLC now owns 3,030 shares of the oil and gas company’s stock worth $409,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Valero Energy during the third quarter worth about $5,920,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

Shares of VLO stock opened at $135.00 on Friday. 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 business has a 50 day moving average of $133.87 and a two-hundred day moving average of $133.59. Valero Energy Co. has a 52 week low of $116.84 and a 52 week high of $184.79. The company has a market cap of $42.52 billion, a P/E ratio of 15.92, a PEG ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating 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, analysts anticipate that Valero Energy Co. will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a dividend of $1.13 per share. The ex-dividend date was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.35%. Valero Energy’s payout ratio is currently 53.30%.

Wall Street Analysts Forecast Growth

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

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.