Zurcher Kantonalbank Zurich Cantonalbank Sells 2,933 Shares of Valero Energy Co. (NYSE:VLO)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Valero Energy Co. (NYSE:VLO) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,106 shares of the oil and gas company’s stock after selling 2,933 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Valero Energy were worth $20,269,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Valero Energy in the 2nd quarter valued at $15,945,000. Allspring Global Investments Holdings LLC raised its position in Valero Energy by 1.8% in the third 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 purchasing an additional 22,571 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in Valero Energy in the second quarter worth about $535,000. Massmutual Trust Co. FSB ADV boosted its holdings in 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 purchasing an additional 8,198 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Valero Energy by 66.0% during the second quarter. GAMMA Investing LLC now owns 8,781 shares of the oil and gas company’s stock valued at $1,377,000 after purchasing an additional 3,492 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Up 0.3 %

Shares of VLO opened at $139.02 on Friday. The firm has a market capitalization of $44.01 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 2.59 and a beta of 1.39. Valero Energy Co. has a 52 week low of $120.21 and a 52 week high of $184.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The business’s fifty day moving average price is $136.92 and its two-hundred day moving average price is $145.35.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion during the quarter, compared to analyst estimates of $31.04 billion. During the same period last year, the company earned $7.49 earnings per share. The company’s revenue was down 14.4% on a year-over-year basis. On average, analysts predict that Valero Energy Co. will post 8.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.08%. Valero Energy’s dividend payout ratio is currently 38.39%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VLO. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $169.00 to $123.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. BMO Capital Markets cut their price target on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Barclays decreased their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Mizuho dropped their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.86.

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.