Primecap Management Co. CA Has $5.36 Million Holdings in Valero Energy Corporation $VLO

Primecap Management Co. CA decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,500 shares of the oil and gas company’s stock after selling 5,000 shares during the quarter. Primecap Management Co. CA’s holdings in Valero Energy were worth $5,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Valero Energy by 17.4% during the third quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company’s stock worth $27,377,000 after acquiring an additional 23,859 shares during the period. Federated Hermes Inc. boosted its holdings in Valero Energy by 15.7% in the 2nd quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock valued at $21,770,000 after purchasing an additional 21,997 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Valero Energy during the 3rd quarter worth approximately $4,534,000. Cerity Partners LLC increased its holdings in shares of Valero Energy by 9.0% during the third quarter. Cerity Partners LLC now owns 104,859 shares of the oil and gas company’s stock worth $17,853,000 after purchasing an additional 8,638 shares during the period. Finally, Tema Etfs LLC bought a new position in shares of Valero Energy during the third quarter worth approximately $1,669,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of VLO opened at $204.49 on Friday. The business has a 50-day simple moving average of $185.80 and a two-hundred day simple moving average of $171.70. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $206.77. The stock has a market cap of $62.37 billion, a PE ratio of 26.77, a PEG ratio of 1.06 and a beta of 0.77.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.34%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Thursday, February 5th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. The ex-dividend date is Thursday, February 5th. Valero Energy’s dividend payout ratio is 62.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VLO. Mizuho reissued a “neutral” rating and set a $192.00 price target (up from $190.00) on shares of Valero Energy in a research report on Friday, December 12th. Wall Street Zen raised Valero Energy from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Argus upgraded Valero Energy to a “hold” rating in a research report on Monday, February 2nd. Zacks Research cut shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, UBS Group reissued a “buy” rating on shares of Valero Energy in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.67.

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.