Covenant Asset Management LLC Sells 822 Shares of Valero Energy Co. (NYSE:VLO)

Covenant Asset Management LLC decreased its position in Valero Energy Co. (NYSE:VLO) by 6.2% during the fourth quarter, Holdings Channel reports. The fund owned 12,421 shares of the oil and gas company’s stock after selling 822 shares during the period. Covenant Asset Management LLC’s holdings in Valero Energy were worth $1,523,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of VLO. Inspire Investing LLC increased its position in Valero Energy by 24.0% in the third quarter. Inspire Investing LLC now owns 2,104 shares of the oil and gas company’s stock worth $284,000 after buying an additional 407 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Valero Energy in the third quarter worth about $609,000. Creative Planning increased its position in Valero Energy by 3.8% in the third quarter. Creative Planning now owns 84,573 shares of the oil and gas company’s stock worth $11,420,000 after buying an additional 3,097 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in Valero Energy by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 4,995 shares of the oil and gas company’s stock worth $674,000 after buying an additional 142 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Valero Energy by 3.0% during the third quarter. Vontobel Holding Ltd. now owns 10,170 shares of the oil and gas company’s stock worth $1,373,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

VLO opened at $135.49 on Friday. The business has a fifty day moving average of $130.47 and a 200 day moving average of $136.67. Valero Energy Co. has a 52-week low of $116.84 and a 52-week high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The stock has a market cap of $42.89 billion, a P/E ratio of 15.98, a PEG ratio of 2.85 and a beta of 1.42.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, sell-side analysts anticipate that Valero Energy Co. will post 7.86 EPS for the current year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be paid a $1.13 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.52 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio is presently 53.30%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VLO shares. TD Cowen decreased their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company decreased their target price on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Barclays decreased their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.46.

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.