Carmel Capital Management L.L.C. Lowers Holdings in Valero Energy Co. (NYSE:VLO)

Carmel Capital Management L.L.C. reduced its position in shares of Valero Energy Co. (NYSE:VLO) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,011 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Valero Energy comprises about 2.2% of Carmel Capital Management L.L.C.’s portfolio, making the stock its 19th biggest position. Carmel Capital Management L.L.C.’s holdings in Valero Energy were worth $5,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock worth $384,907,000 after buying an additional 2,793,607 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Valero Energy by 11,318.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,076,349 shares of the oil and gas company’s stock worth $145,339,000 after acquiring an additional 1,066,923 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Valero Energy by 900.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock worth $85,217,000 after purchasing an additional 568,000 shares during the last quarter. Pacer Advisors Inc. boosted its position in Valero Energy by 18.8% during the third quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock valued at $484,105,000 after purchasing an additional 567,059 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in Valero Energy in the third quarter valued at about $70,352,000. 78.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Mizuho lowered their target price on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Finally, Bank of America started coverage on shares of Valero Energy in a research report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.57.

Valero Energy Price Performance

VLO stock opened at $140.75 on Friday. Valero Energy Co. has a 1 year low of $116.84 and a 1 year high of $184.79. The firm has a market capitalization of $44.56 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.81 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The business has a 50 day simple moving average of $131.27 and a 200-day simple moving average of $137.96.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. During the same period last year, the company earned $7.49 EPS. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities research analysts anticipate that Valero Energy Co. will post 7.93 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 3.21%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date is Thursday, January 30th. Valero Energy’s payout ratio is presently 40.54%.

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.