Valero Energy Corporation $VLO Stock: Red Cedar Investment Management LLC Cuts Holdings

Red Cedar Investment Management LLC lessened its position in shares of Valero Energy Corporation (NYSE:VLO) by 37.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,815 shares of the oil and gas company’s stock after selling 10,237 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Valero Energy were worth $6,518,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Texas Bank & Trust Co acquired a new position in Valero Energy in the third quarter valued at approximately $360,000. Gryphon Financial Partners LLC grew its position in Valero Energy by 5.3% in the third quarter. Gryphon Financial Partners LLC now owns 2,854 shares of the oil and gas company’s stock worth $1,106,000 after acquiring an additional 143 shares during the period. Kestra Investment Management LLC increased its stake in Valero Energy by 552.5% during the third quarter. Kestra Investment Management LLC now owns 5,807 shares of the oil and gas company’s stock worth $2,251,000 after acquiring an additional 4,917 shares during the last quarter. AlphaCore Capital LLC increased its stake in Valero Energy by 30.2% during the third quarter. AlphaCore Capital LLC now owns 15,611 shares of the oil and gas company’s stock worth $6,051,000 after acquiring an additional 3,621 shares during the last quarter. Finally, Fulcrum Asset Management LLP increased its stake in Valero Energy by 69,727.3% during the third quarter. Fulcrum Asset Management LLP now owns 7,681 shares of the oil and gas company’s stock worth $2,978,000 after acquiring an additional 7,670 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO stock opened at $356.64 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.72. The firm has a market cap of $102.69 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.19 and a beta of 0.58. The firm’s 50 day moving average price is $399.69 and its 200-day moving average price is $290.45. Valero Energy Corporation has a one year low of $159.90 and a one year high of $461.52.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, beating the consensus estimate of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm had revenue of $46.10 billion during the quarter, compared to the consensus estimate of $42.71 billion. During the same quarter last year, the firm earned $3.66 EPS. The firm’s revenue for the quarter was up 43.3% on a year-over-year basis. As a group, equities research analysts predict that Valero Energy Corporation will post 57.83 EPS for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, November 24th. Valero Energy’s dividend payout ratio is 10.80%.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research analyst reports. Citigroup lifted their target price on Valero Energy from $485.00 to $490.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Evercore cut their price objective on Valero Energy from $385.00 to $325.00 in a research report on Wednesday, October 28th. Dbs Bank downgraded Valero Energy to a “hold” rating and set a $436.00 price objective for the company. in a research report on Monday, October 19th. Finally, Raymond James Financial boosted their price objective on shares of Valero Energy from $450.00 to $530.00 in a report on Monday, October 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $406.32.

Valero Energy Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.