Pictet Asset Management Holding SA Cuts Holdings in Valero Energy Co. (NYSE:VLO)

Pictet Asset Management Holding SA decreased its stake in Valero Energy Co. (NYSE:VLO) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,496 shares of the oil and gas company’s stock after selling 7,348 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Valero Energy worth $23,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Valero Energy during the fourth quarter valued at about $669,400,000. Vanguard Group Inc. increased its position in shares of Valero Energy by 16.1% during the 4th quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock valued at $4,257,024,000 after purchasing an additional 4,805,133 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Valero Energy by 4,908.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after buying an additional 2,793,607 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Valero Energy in the 4th quarter worth approximately $132,469,000. Finally, Prudential Financial Inc. boosted its stake in Valero Energy by 159.3% in the fourth quarter. Prudential Financial Inc. now owns 850,161 shares of the oil and gas company’s stock worth $104,221,000 after buying an additional 522,233 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

NYSE:VLO opened at $132.19 on Tuesday. 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 twelve month low of $116.84 and a twelve month high of $184.79. The stock has a market cap of $41.64 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The firm’s fifty day simple moving average is $133.31 and its 200 day simple moving average is $133.30.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) 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, research analysts predict 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 was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a $1.13 dividend. The ex-dividend date was Thursday, January 30th. This represents a $4.52 annualized dividend and a dividend yield of 3.42%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is currently 53.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VLO shares. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lowered their price target on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. 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. Finally, Piper Sandler dropped their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.67.

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.