587,402 Valero Energy Corporation $VLO Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings cut its Valero stake by 34.9%, selling 587,402 shares in the third quarter and retaining 1,097,167 shares valued at about $448.1 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $406.32; ratings include three Strong Buys, nine Buys, eight Holds, and two Sells.
• Valero reported quarterly EPS of $23.90, beating estimates of $21.17, while revenue rose 43.3% year over year to $46.1 billion. It declared a quarterly dividend of $1.20 per share.

Allspring Global Investments Holdings LLC lowered its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 34.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,097,167 shares of the oil and gas company's stock after selling 587,402 shares during the period. Valero Energy makes up about 0.7% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 20th largest holding. Allspring Global Investments Holdings LLC owned approximately 0.38% of Valero Energy worth $448,149,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Almanack Investment Partners LLC. boosted its holdings in shares of Valero Energy by 11.5% in the 3rd quarter. Almanack Investment Partners LLC. now owns 1,662 shares of the oil and gas company's stock valued at $644,000 after purchasing an additional 171 shares in the last quarter. M Holdings Securities Inc. acquired a new stake in shares of Valero Energy in the third quarter valued at about $841,000. Brighton Jones LLC raised its stake in Valero Energy by 7.5% during the third quarter. Brighton Jones LLC now owns 8,594 shares of the oil and gas company's stock worth $3,331,000 after buying an additional 600 shares during the last quarter. Point Nemo Capital LLC grew its stake in Valero Energy by 1.8% during the third quarter. Point Nemo Capital LLC now owns 5,224 shares of the oil and gas company's stock worth $2,025,000 after purchasing an additional 90 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in shares of Valero Energy by 0.5% during the 3rd quarter. 180 Wealth Advisors LLC now owns 5,317 shares of the oil and gas company's stock worth $2,061,000 after buying an additional 28 shares during the period. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VLO shares. Morgan Stanley boosted their target price on shares of Valero Energy from $411.00 to $420.00 and gave the company an "equal weight" rating in a research report on Monday, November 2nd. Dbs Bank downgraded Valero Energy to a "hold" rating and set a $436.00 target price for the company. in a research note on Monday, October 19th. Mizuho boosted their price target on shares of Valero Energy from $434.00 to $436.00 and gave the company a "neutral" rating in a research note on Monday, November 2nd. Weiss Ratings raised Valero Energy from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 29th. Finally, Evercore lowered their target price on shares of Valero Energy from $385.00 to $325.00 in a report on Wednesday, October 28th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $406.32.

Valero Energy Trading Down 0.0%

NYSE:VLO opened at $346.29 on Monday. The company has a market cap of $96.57 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.18 and a beta of 0.58. Valero Energy Corporation has a 1 year low of $159.90 and a 1 year high of $461.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. The stock's fifty day moving average price is $399.61 and its two-hundred day moving average price is $289.61.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $21.17 by $2.73. Valero Energy had a return on equity of 45.90% and a net margin of 8.44%. The company had revenue of $46.10 billion for the quarter, compared to analyst estimates of $42.71 billion. During the same period in the previous year, the company posted $3.66 EPS. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, analysts expect that Valero Energy Corporation will post 57.83 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, November 24th. Valero Energy's payout ratio is 10.80%.

Valero Energy Company 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.

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