Nikko Asset Management Americas Inc. Cuts Stock Holdings in Valero Energy Co. (NYSE:VLO)

Nikko Asset Management Americas Inc. cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,720 shares of the oil and gas company’s stock after selling 295 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Valero Energy were worth $333,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Valero Energy by 4,908.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock worth $384,907,000 after acquiring an additional 2,793,607 shares in the last quarter. Raymond James Financial Inc. bought a new position in Valero Energy in the fourth quarter worth about $132,469,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Valero Energy by 900.2% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock valued at $85,217,000 after buying an additional 568,000 shares during 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 acquiring an additional 567,059 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Valero Energy during the third quarter valued at approximately $70,352,000. Institutional investors own 78.69% of the company’s stock.

Valero Energy Trading Up 3.0 %

Shares of Valero Energy stock opened at $133.03 on Tuesday. Valero Energy Co. has a 1 year low of $116.84 and a 1 year high of $184.79. 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 stock has a market cap of $41.90 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The firm has a fifty day moving average price of $133.34 and a 200 day moving average price of $133.68.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Equities research analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, January 30th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is currently 53.30%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VLO. Piper Sandler reduced their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company dropped their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Mizuho decreased their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Finally, Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.08.

About Valero Energy

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.