Mengis Capital Management Inc. Trims Stock Position in Valero Energy Co. (NYSE:VLO)

Mengis Capital Management Inc. cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 11,905 shares of the oil and gas company’s stock after selling 390 shares during the quarter. Mengis Capital Management Inc.’s holdings in Valero Energy were worth $1,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VLO. Wellington Management Group LLP raised its stake in 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 acquiring an additional 2,793,607 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Valero Energy by 900.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock worth $85,217,000 after buying an additional 568,000 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after buying an additional 567,059 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of Valero Energy during the 3rd quarter worth approximately $70,352,000. Finally, Two Sigma Advisers LP raised its stake in shares of Valero Energy by 501.1% during the 3rd quarter. Two Sigma Advisers LP now owns 582,500 shares of the oil and gas company’s stock worth $78,655,000 after buying an additional 485,600 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VLO shares. Barclays cut their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Mizuho lowered their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $135.10 on Tuesday. The business’s fifty day moving average price is $131.26 and its two-hundred day moving average price is $135.57. The stock has a market cap of $42.77 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.93 and a beta of 1.42. 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 Co. has a one year low of $116.84 and a one year high of $184.79.

Valero Energy (NYSE:VLO) last announced 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%. On average, analysts forecast that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.35%. 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. Valero Energy’s dividend payout ratio is 53.30%.

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.