Allspring Global Investments Holdings LLC Increases Stock Position in Valero Energy Corporation $VLO

Allspring Global Investments Holdings LLC raised its position in shares of Valero Energy Corporation (NYSE:VLO) by 17.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,706,187 shares of the oil and gas company’s stock after purchasing an additional 256,373 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Valero Energy were worth $286,076,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VLO. Magnetar Financial LLC bought a new stake in Valero Energy during the first quarter worth approximately $227,000. Focus Partners Advisor Solutions LLC lifted its stake in shares of Valero Energy by 33.8% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,552 shares of the oil and gas company’s stock worth $1,394,000 after acquiring an additional 2,668 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Valero Energy by 3.8% during the 1st quarter. EP Wealth Advisors LLC now owns 193,087 shares of the oil and gas company’s stock valued at $25,501,000 after acquiring an additional 7,002 shares during the period. Perbak Capital Partners LLP bought a new position in Valero Energy in the 1st quarter valued at $362,000. Finally, Federation des caisses Desjardins du Quebec lifted its position in shares of Valero Energy by 2.4% during the first quarter. Federation des caisses Desjardins du Quebec now owns 76,800 shares of the oil and gas company’s stock worth $10,144,000 after purchasing an additional 1,782 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the transaction, the chief financial officer owned 134,196 shares of the company’s stock, valued at approximately $23,352,787.92. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Valero Energy Stock Down 0.5%

Valero Energy stock opened at $164.79 on Wednesday. The stock has a market capitalization of $50.26 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. The business has a 50 day simple moving average of $171.96 and a 200-day simple moving average of $157.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $185.62.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The firm had revenue of $32.17 billion for the quarter, compared to analyst estimates of $28.80 billion. During the same period last year, the company posted $1.14 EPS. Valero Energy’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, November 20th. Valero Energy’s dividend payout ratio (DPR) is currently 94.36%.

Analyst Upgrades and Downgrades

VLO has been the topic of a number of research reports. Zacks Research raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Bank of America restated a “neutral” rating and set a $195.00 price objective (down from $198.00) on shares of Valero Energy in a research note on Thursday, December 11th. Barclays upped their price target on Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. raised their price target on Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Piper Sandler lifted their price objective on shares of Valero Energy from $201.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.20.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.