Massachusetts Financial Services Co. MA Cuts Stock Holdings in Valero Energy Corporation (NYSE:VLO)

Massachusetts Financial Services Co. MA lessened its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,637,413 shares of the oil and gas company's stock after selling 30,674 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.52% of Valero Energy worth $216,253,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VLO. Wayfinding Financial LLC bought a new position in shares of Valero Energy during the first quarter valued at $26,000. Ameriflex Group Inc. bought a new position in Valero Energy during the 4th quarter worth $29,000. Iron Horse Wealth Management LLC bought a new position in Valero Energy during the 1st quarter worth $44,000. Millstone Evans Group LLC bought a new position in Valero Energy during the 4th quarter worth $44,000. Finally, North Capital Inc. bought a new position in shares of Valero Energy during the first quarter worth about $58,000. Institutional investors own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VLO shares. JPMorgan Chase & Co. decreased their target price on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Evercore ISI began coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective for the company. TD Cowen decreased their price objective on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Mizuho increased their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, Barclays increased their price target on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $153.94.

Valero Energy Stock Down 3.8%

NYSE VLO traded down $5.60 during mid-day trading on Wednesday, hitting $143.20. The company's stock had a trading volume of 4,002,881 shares, compared to its average volume of 3,090,784. The company's 50 day simple moving average is $135.20 and its 200 day simple moving average is $129.65. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $167.78. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 2.60 and a beta of 1.00.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data 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 business 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%. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.82 earnings per share. 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 announced 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 3.16%. Valero Energy's payout ratio is 159.72%.

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.