State of Michigan Retirement System Lowers Stake in Valero Energy Co. (NYSE:VLO)

State of Michigan Retirement System decreased its position in Valero Energy Co. (NYSE:VLO) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,962 shares of the oil and gas company’s stock after selling 4,200 shares during the quarter. State of Michigan Retirement System’s holdings in Valero Energy were worth $15,984,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Collective Family Office LLC increased its position in shares of Valero Energy by 1.5% during the first quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock worth $690,000 after acquiring an additional 58 shares during the period. Versant Capital Management Inc raised its position in Valero Energy by 4.7% in the 1st quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 59 shares in the last quarter. Covenant Asset Management LLC boosted its stake in shares of Valero Energy by 0.4% in the 1st quarter. Covenant Asset Management LLC now owns 14,659 shares of the oil and gas company’s stock valued at $2,502,000 after buying an additional 64 shares during the period. Rovin Capital UT ADV grew its position in shares of Valero Energy by 3.5% during the first quarter. Rovin Capital UT ADV now owns 1,968 shares of the oil and gas company’s stock worth $336,000 after buying an additional 67 shares in the last quarter. Finally, Aua Capital Management LLC increased its stake in shares of Valero Energy by 3.1% during the first quarter. Aua Capital Management LLC now owns 2,261 shares of the oil and gas company’s stock worth $386,000 after buying an additional 67 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

NYSE:VLO opened at $142.75 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. The firm has a market cap of $46.68 billion, a PE ratio of 7.09, a P/E/G ratio of 2.79 and a beta of 1.42. The firm has a 50 day simple moving average of $150.85 and a 200-day simple moving average of $155.69. Valero Energy Co. has a 1-year low of $119.88 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The business had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. During the same quarter in the previous year, the business posted $5.40 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Valero Energy Co. will post 12.86 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, August 1st. Valero Energy’s dividend payout ratio is currently 21.20%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VLO shares. Scotiabank lifted their price target on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Argus lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Wolfe Research began coverage on shares of Valero Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective for the company. Barclays dropped their target price on shares of Valero Energy from $171.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Finally, Mizuho upgraded shares of Valero Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $175.00 in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.00.

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.