Mercer Global Advisors Inc. ADV Cuts Stock Position in Valero Energy Co. (NYSE:VLO)

Mercer Global Advisors Inc. ADV lowered its stake in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 70,183 shares of the oil and gas company's stock after selling 8,318 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Valero Energy were worth $8,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Freestone Grove Partners LP bought a new stake in shares of Valero Energy during the 4th quarter worth $31,002,000. Navigoe LLC purchased a new position in Valero Energy in the fourth quarter valued at about $612,000. Northern Trust Corp grew its position in shares of Valero Energy by 15.9% during the 4th quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock valued at $472,077,000 after acquiring an additional 529,513 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Valero Energy by 0.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 711,291 shares of the oil and gas company's stock worth $87,196,000 after purchasing an additional 4,024 shares during the last quarter. Finally, Berger Financial Group Inc raised its holdings in shares of Valero Energy by 13.8% in the 4th quarter. Berger Financial Group Inc now owns 6,584 shares of the oil and gas company's stock worth $807,000 after purchasing an additional 796 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of VLO traded down $0.07 during trading hours on Wednesday, reaching $116.93. 2,500,018 shares of the stock traded hands, compared to its average volume of 3,015,165. Valero Energy Co. has a 52-week low of $99.00 and a 52-week high of $167.78. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The company has a market cap of $36.62 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.98. The company's 50-day moving average price is $120.65 and its two-hundred day moving average price is $128.73.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. The business had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. During the same period last year, the business posted $3.82 EPS. The firm's revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts anticipate that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, May 20th. Valero Energy's dividend payout ratio (DPR) is presently 159.72%.

Analyst Upgrades and Downgrades

VLO has been the subject of a number of recent research reports. Morgan Stanley decreased their target price on Valero Energy from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group upgraded shares of Valero Energy from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $115.00 to $127.00 in a research note on Monday, April 28th. Tudor Pickering upgraded shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, TD Cowen lowered their target price on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $149.80.

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.