Essex Financial Services Inc. Purchases 1,312 Shares of Valero Energy Co. (NYSE:VLO)

Essex Financial Services Inc. grew its position in Valero Energy Co. (NYSE:VLO) by 40.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,526 shares of the oil and gas company’s stock after buying an additional 1,312 shares during the period. Essex Financial Services Inc.’s holdings in Valero Energy were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new position in Valero Energy during the fourth quarter worth about $25,000. Peterson Financial Group Inc. bought a new position in shares of Valero Energy during the 3rd quarter worth approximately $28,000. Tobam acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $30,000. True Wealth Design LLC raised its stake in Valero Energy by 196.8% in the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 183 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in Valero Energy during the 3rd quarter valued at $38,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

VLO opened at $130.95 on Thursday. The firm has a market cap of $41.46 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.42. The business’s fifty day moving average is $130.58 and its 200-day moving average is $136.75. Valero Energy Co. has a 52-week low of $116.84 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.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 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%. Sell-side analysts expect that Valero Energy Co. will post 7.86 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.45%. Valero Energy’s dividend payout ratio is presently 53.30%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen decreased their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Barclays lowered their price target on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $154.46.

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.