OLD National Bancorp IN Sells 996 Shares of Valero Energy Co. (NYSE:VLO)

OLD National Bancorp IN cut its position in shares of Valero Energy Co. (NYSE:VLO) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,177 shares of the oil and gas company’s stock after selling 996 shares during the period. OLD National Bancorp IN’s holdings in Valero Energy were worth $1,872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. Norges Bank bought a new position in Valero Energy during the fourth quarter valued at approximately $669,400,000. Vanguard Group Inc. lifted its stake in shares of Valero Energy by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock valued at $4,257,024,000 after purchasing an additional 4,805,133 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Valero Energy by 15,395.5% in the 1st quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock valued at $179,047,000 after purchasing an additional 1,346,950 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Valero Energy in the 4th quarter valued at approximately $132,469,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Valero Energy in the 4th quarter valued at approximately $98,376,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Trading Up 1.2%

VLO opened at $128.35 on Monday. The stock’s fifty day moving average is $120.32 and its two-hundred day moving average is $127.66. The company has a market capitalization of $40.20 billion, a P/E ratio of 15.14, a PEG ratio of 2.93 and a beta of 0.99. Valero Energy Co. has a 52 week low of $99.00 and a 52 week high of $167.78. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). The firm had revenue of $28.76 billion for the quarter, compared to analysts’ expectations of $28.54 billion. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.82 earnings per share. Analysts forecast that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $4.52 annualized dividend and a yield of 3.52%. Valero Energy’s payout ratio is currently 159.72%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VLO. TD Cowen lowered their price objective on Valero Energy from $121.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Piper Sandler lowered their price objective on Valero Energy from $144.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Raymond James lowered their price objective on Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Mizuho raised their price objective on Valero Energy from $158.00 to $166.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th. Finally, UBS Group reduced their price target on Valero Energy from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $151.93.

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.