PNC Financial Services Group Inc. Cuts Stock Holdings in Valero Energy Co. (NYSE:VLO)

PNC Financial Services Group Inc. reduced its position in Valero Energy Co. (NYSE:VLO) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,697 shares of the oil and gas company’s stock after selling 6,340 shares during the period. PNC Financial Services Group Inc.’s holdings in Valero Energy were worth $18,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Wave Wealth Advisors LLC purchased a new position in shares of Valero Energy in the fourth quarter worth $25,000. Peterson Financial Group Inc. purchased a new position in Valero Energy in the 3rd quarter worth about $28,000. Tobam bought a new position in Valero Energy during the 4th quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in shares of Valero Energy by 196.8% during 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 last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Valero Energy in the fourth quarter worth approximately $38,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $126.78 on Tuesday. The firm’s 50 day simple moving average is $132.91 and its two-hundred day simple moving average is $134.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The company has a market capitalization of $40.14 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.93 and a beta of 1.36. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping 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%. Research analysts expect that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, January 30th were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is 53.30%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VLO. Barclays lowered 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 report on Monday, November 11th. Piper Sandler lowered their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Mizuho lowered their target price 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, Wells Fargo & Company cut their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.08.

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.