Manning & Napier Advisors LLC Has $6.98 Million Stock Position in Valero Energy Corporation $VLO

Manning & Napier Advisors LLC reduced its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 50.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,520 shares of the oil and gas company’s stock after selling 41,641 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Valero Energy were worth $6,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Valero Energy by 15.7% in the second quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock valued at $21,770,000 after buying an additional 21,997 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Valero Energy by 17.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company’s stock valued at $27,377,000 after acquiring an additional 23,859 shares during the period. Consolidated Planning Corp bought a new position in Valero Energy during the second quarter worth $339,000. Cerity Partners LLC grew its holdings in Valero Energy by 9.0% in 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 stake in Valero Energy in the third quarter valued at $1,669,000. Institutional investors own 78.69% of the company’s stock.

Insider Activity at Valero Energy

In other news, CFO Jason W. Fraser sold 9,933 shares of Valero Energy stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $186.13 on Thursday. The company has a fifty day moving average of $173.69 and a 200-day moving average of $160.47. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $192.00. The stock has a market capitalization of $56.77 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $28.80 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 20th were issued a $1.13 dividend. The ex-dividend date was Thursday, November 20th. This represents a $4.52 annualized dividend and a yield of 2.4%. Valero Energy’s dividend payout ratio is 94.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VLO shares. Raymond James Financial reissued a “strong-buy” rating and set a $195.00 price objective (up previously from $181.00) on shares of Valero Energy in a research report on Friday, October 24th. Evercore ISI upped their price target on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Bank of America reissued a “neutral” rating and issued a $195.00 price objective (down previously from $198.00) on shares of Valero Energy in a research note on Thursday, December 11th. Piper Sandler decreased their price objective on Valero Energy from $223.00 to $217.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Finally, Erste Group Bank started coverage on shares of Valero Energy in a report on Monday, November 10th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Valero Energy Company Profile

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.