State of Michigan Retirement System Sells 4,200 Shares of Valero Energy Co. (NYSE:VLO)

State of Michigan Retirement System decreased its stake in shares of Valero Energy Co. (NYSE:VLO) by 4.0% in the second quarter, Holdings Channel reports. The institutional investor owned 101,962 shares of the oil and gas company’s stock after selling 4,200 shares during the quarter. State of Michigan Retirement System’s holdings in Valero Energy were worth $15,984,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. First Command Advisory Services Inc. increased its position in shares of Valero Energy by 41.7% during the second quarter. First Command Advisory Services Inc. now owns 510 shares of the oil and gas company’s stock valued at $80,000 after acquiring an additional 150 shares in the last quarter. St. Johns Investment Management Company LLC boosted its stake in Valero Energy by 1.4% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 5,068 shares of the oil and gas company’s stock valued at $794,000 after purchasing an additional 72 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Valero Energy by 1.4% in the second quarter. Verdence Capital Advisors LLC now owns 9,522 shares of the oil and gas company’s stock worth $1,493,000 after purchasing an additional 134 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Valero Energy by 6.9% during the second quarter. Independence Bank of Kentucky now owns 3,033 shares of the oil and gas company’s stock valued at $475,000 after buying an additional 195 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Valero Energy by 4.3% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,818 shares of the oil and gas company’s stock valued at $2,009,000 after buying an additional 533 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 0.2 %

VLO opened at $142.75 on Tuesday. The stock has a market cap of $46.68 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 2.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The firm’s fifty day moving average is $150.85 and its 200 day moving average is $155.69. Valero Energy Co. has a fifty-two week low of $119.88 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company had revenue of $34.49 billion for the quarter, compared to the consensus estimate of $32.97 billion. During the same quarter last year, the company earned $5.40 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Valero Energy Co. will post 12.86 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $1.07 dividend. The ex-dividend date is Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.00%. Valero Energy’s dividend payout ratio (DPR) is 21.20%.

Analyst Ratings Changes

VLO has been the topic of several research analyst reports. Scotiabank upped their target price on shares of Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Piper Sandler lowered their price target on Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Wolfe Research assumed coverage on Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective for the company. Finally, TD Cowen reduced their price objective on Valero Energy from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.00.

Valero Energy Company 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.