Allspring Global Investments Holdings LLC Decreases Holdings in Valero Energy Corporation $VLO

Allspring Global Investments Holdings LLC lowered its holdings in Valero Energy Corporation (NYSE:VLO) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,702,757 shares of the oil and gas company’s stock after selling 3,430 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.56% of Valero Energy worth $281,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPL Wealth Management LLC purchased a new stake in shares of Valero Energy during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC grew its position 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 buying an additional 66 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in Valero Energy during the 3rd quarter worth $34,000. Cypress Capital Management LLC WY acquired a new stake in Valero Energy during the 3rd quarter worth $34,000. Finally, Triumph Capital Management purchased a new stake in Valero Energy in the third quarter valued at $35,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $238.60, for a total transaction of $95,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Valero Energy Stock Down 1.6%

Shares of NYSE:VLO opened at $250.24 on Tuesday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $258.43. The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $210.59 and its 200-day simple moving average is $184.66. The company has a market cap of $74.83 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 0.63 and a beta of 0.70.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. The firm had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 5th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is an increase from Valero Energy’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Thursday, February 5th. Valero Energy’s dividend payout ratio is 62.83%.

Analyst Upgrades and Downgrades

VLO has been the topic of several research reports. Wall Street Zen raised Valero Energy from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Argus raised Valero Energy to a “hold” rating in a report on Monday, February 2nd. Morgan Stanley upped their target price on Valero Energy from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group lifted their price target on Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, Raymond James Financial increased their price objective on Valero Energy from $215.00 to $290.00 and gave the company a “strong-buy” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.53.

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.