Korea Investment CORP Reduces Stake in Valero Energy Corporation $VLO

Korea Investment CORP lessened its holdings in Valero Energy Corporation (NYSE:VLO) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 226,745 shares of the oil and gas company’s stock after selling 6,365 shares during the period. Korea Investment CORP’s holdings in Valero Energy were worth $38,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Highline Wealth Partners LLC boosted its holdings in shares of Valero Energy by 70.2% in the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in shares of Valero Energy during the third quarter worth $34,000. Cypress Capital Management LLC WY purchased a new position in shares of Valero Energy during the third quarter worth $34,000. Physician Wealth Advisors Inc. lifted its position in Valero Energy by 145.3% during the third quarter. Physician Wealth Advisors Inc. now owns 211 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Finally, Evolution Wealth Management Inc. acquired a new position in Valero Energy during the second quarter valued at $43,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Down 3.9%

VLO opened at $215.96 on Tuesday. The company has a fifty day moving average of $192.66 and a two-hundred day moving average of $175.73. The stock has a market capitalization of $64.58 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.17 and a beta of 0.70. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $232.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.11 and a current ratio of 1.64.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. The business had revenue of $30.37 billion for the quarter, compared to analyst estimates of $28.20 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This is an increase from Valero Energy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a yield of 2.2%. Valero Energy’s dividend payout ratio is 62.83%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VLO. Citigroup increased their price target on Valero Energy from $190.00 to $212.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Wall Street Zen raised Valero Energy from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research downgraded Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Mizuho reiterated 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. Finally, Barclays boosted their price target on Valero Energy from $169.00 to $184.00 and gave the company an “overweight” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $187.67.

Valero Energy 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.