Valero Energy Co. (NYSE:VLO) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Valero Energy Co. (NYSE:VLO) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,124 shares of the oil and gas company’s stock after buying an additional 722 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Valero Energy were worth $493,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Generali Asset Management SPA SGR acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $4,098,000. Horizon Investments LLC raised its stake in shares of Valero Energy by 3.5% during the 4th quarter. Horizon Investments LLC now owns 5,362 shares of the oil and gas company’s stock worth $652,000 after buying an additional 179 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Valero Energy by 1.2% during the 4th quarter. Advisors Asset Management Inc. now owns 80,820 shares of the oil and gas company’s stock worth $9,908,000 after buying an additional 992 shares during the period. Kennondale Capital Management LLC acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $714,000. Finally, RD Lewis Holdings Inc. acquired a new position in Valero Energy in the 4th quarter valued at $305,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VLO. Tudor Pickering raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Mizuho reduced their price objective on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Piper Sandler reduced their price objective on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company reduced their price objective 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 issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.08.

Valero Energy Stock Performance

NYSE VLO opened at $135.00 on Friday. The stock has a market cap of $42.52 billion, a PE ratio of 15.92, a P/E/G ratio of 2.93 and a beta of 1.36. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a twelve month low of $116.84 and a twelve month high of $184.79. The stock has a fifty day simple moving average of $133.87 and a 200-day simple moving average of $133.59.

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

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were issued a dividend of $1.13 per share. The ex-dividend date was Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.35%. Valero Energy’s dividend payout ratio is currently 53.30%.

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.