Valero Energy Corporation (NYSE:VLO) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,432 shares of the oil and gas company's stock after selling 4,767 shares during the period. Manning & Napier Advisors LLC's holdings in Valero Energy were worth $11,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of Valero Energy during the 4th quarter worth about $29,000. OFI Invest Asset Management acquired a new position in shares of Valero Energy in the 4th quarter valued at $37,000. Millstone Evans Group LLC acquired a new position in shares of Valero Energy in the 4th quarter valued at $44,000. SBI Securities Co. Ltd. acquired a new position in shares of Valero Energy in the 4th quarter valued at $52,000. Finally, Transce3nd LLC acquired a new position in Valero Energy in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Piper Sandler decreased their target price on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their target price on shares of Valero Energy from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Scotiabank decreased their price objective on Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Valero Energy presently has an average rating of "Moderate Buy" and a consensus price target of $150.88.

Valero Energy Price Performance

Shares of NYSE VLO traded up $1.74 during midday trading on Friday, hitting $141.16. The company had a trading volume of 5,438,642 shares, compared to its average volume of 3,041,553. The business has a 50-day simple moving average of $125.11 and a two-hundred day simple moving average of $127.56. Valero Energy Corporation has a twelve month low of $99.00 and a twelve 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 firm has a market capitalization of $44.21 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99.

Valero Energy (NYSE:VLO - Get Free Report) last posted 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). The company had revenue of $28.76 billion for the quarter, compared to analyst estimates of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. Valero Energy's revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.82 earnings per share. Equities research analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $4.52 annualized dividend and a dividend yield of 3.20%. Valero Energy's dividend payout ratio is currently 159.72%.

Valero Energy Company 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.