SouthState Corp Boosts Holdings in Valero Energy Co. (NYSE:VLO)

SouthState Corp lifted its stake in Valero Energy Co. (NYSE:VLO) by 7,599.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,652 shares of the oil and gas company’s stock after buying an additional 40,124 shares during the period. SouthState Corp’s holdings in Valero Energy were worth $4,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new position in Valero Energy during the 4th quarter worth $25,000. Peterson Financial Group Inc. purchased a new position in Valero Energy during the 3rd quarter worth $28,000. Tobam purchased a new position in Valero Energy during the 4th quarter worth $30,000. True Wealth Design LLC grew its position in Valero Energy by 196.8% during the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Valero Energy during the 4th quarter worth $37,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

Shares of VLO opened at $129.20 on Monday. 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 stock has a market cap of $40.70 billion, a P/E ratio of 15.24, a PEG ratio of 2.93 and a beta of 1.36. The company has a 50-day moving average of $133.12 and a two-hundred day moving average of $133.74. Valero Energy Co. has a 12-month low of $116.84 and a 12-month high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. As a group, research analysts predict that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were given a dividend of $1.13 per share. The ex-dividend date was Thursday, January 30th. This represents a $4.52 dividend on an annualized basis and a yield of 3.50%. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s payout ratio is presently 53.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VLO. Mizuho lowered their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Piper Sandler lowered their target price on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lowered their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.08.

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.