Kentucky Retirement Systems Decreases Stock Holdings in Valero Energy Corporation (NYSE:VLO)

Kentucky Retirement Systems cut its stake in Valero Energy Corporation (NYSE:VLO) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,552 shares of the oil and gas company’s stock after selling 464 shares during the period. Kentucky Retirement Systems’ holdings in Valero Energy were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in VLO. Norges Bank acquired a new stake in shares of Valero Energy in the 4th quarter worth $669,400,000. Vanguard Group Inc. increased its position in Valero Energy by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock worth $4,257,024,000 after purchasing an additional 4,805,133 shares during the last quarter. GAMMA Investing LLC raised its stake in Valero Energy by 15,395.5% during the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock worth $179,047,000 after purchasing an additional 1,346,950 shares during the period. Raymond James Financial Inc. acquired a new position in Valero Energy in the 4th quarter valued at about $132,469,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Valero Energy in the 4th quarter valued at approximately $98,376,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Price Performance

Valero Energy stock opened at $137.08 on Tuesday. The company’s 50 day moving average is $125.64 and its two-hundred day moving average is $127.56. The firm has a market cap of $42.93 billion, a PE ratio of 48.44, a price-to-earnings-growth ratio of 2.46 and a beta of 0.99. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $167.78.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. During the same period last year, the business earned $3.82 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.30%. Valero Energy’s payout ratio is currently 159.72%.

Analyst Ratings Changes

VLO has been the topic of several analyst reports. Piper Sandler reduced their price target on shares of Valero Energy from $144.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Raymond James Financial reduced their target price on Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Morgan Stanley cut their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued 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 $150.88.

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.