Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in Valero Energy Co. (NYSE:VLO)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,486 shares of the oil and gas company’s stock after selling 1,061 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Valero Energy were worth $1,281,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Valero Energy in the second quarter worth about $27,000. Lynx Investment Advisory purchased a new position in shares of Valero Energy in the 2nd quarter valued at approximately $29,000. Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the first quarter worth $33,000. Summit Securities Group LLC bought a new position in Valero Energy in the second quarter worth $31,000. Finally, First Foundation Advisors purchased a new position in Valero Energy during the first quarter valued at $37,000. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

Shares of VLO opened at $140.16 on Friday. The firm has a market capitalization of $44.37 billion, a P/E ratio of 12.57, a PEG ratio of 2.57 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a one year low of $120.21 and a one year high of $184.79. The business has a fifty day moving average of $135.83 and a 200 day moving average of $146.42.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $31.04 billion. During the same period last year, the firm posted $7.49 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Valero Energy Co. will post 9.1 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.05%. Valero Energy’s dividend payout ratio is currently 38.39%.

Analysts Set New Price Targets

Several research analysts recently issued reports on VLO shares. Scotiabank decreased their price target on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. Citigroup cut their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group decreased their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Finally, TD Cowen reduced their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valero Energy has an average rating of “Moderate Buy” and a consensus target price of $155.86.

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.