Valero Energy Corporation (NYSE:VLO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,211,212 shares of the oil and gas company's stock after selling 88,188 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.38% of Valero Energy worth $161,987,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in shares of Valero Energy during the fourth quarter valued at $29,000. OFI Invest Asset Management bought a new stake in shares of Valero Energy during the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC bought a new stake in shares of Valero Energy in the 4th quarter worth $44,000. SBI Securities Co. Ltd. bought a new stake in shares of Valero Energy in the 4th quarter worth $52,000. Finally, Transce3nd LLC purchased a new position in Valero Energy in the 4th quarter worth about $58,000. Institutional investors own 78.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on VLO. Evercore ISI began coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. Piper Sandler cut their price objective on Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 9th. TD Cowen cut their price objective on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group dropped their price objective on shares of Valero Energy from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Mizuho boosted their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $150.88.

Valero Energy Price Performance

Valero Energy stock traded down $2.21 during mid-day trading on Friday, reaching $134.76. 8,049,061 shares of the company's stock traded hands, compared to its average volume of 3,050,290. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $167.78. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $127.81 and a two-hundred day moving average of $127.70. The company has a market cap of $42.21 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 2.39 and a beta of 0.99.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The business had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. During the same period in the prior year, the business posted $3.82 earnings per share. Valero Energy's revenue was down 4.7% on a year-over-year basis. Equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a yield of 3.35%. Valero Energy's dividend payout ratio is presently 159.72%.

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.