California State Teachers Retirement System Has $76.21 Million Stake in Valero Energy Co. (NYSE:VLO)

Posted by Defense World Staff on Mar 16th, 2023

California State Teachers Retirement System trimmed its position in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 713,254 shares of the oil and gas company’s stock after selling 19,949 shares during the period. California State Teachers Retirement System owned 0.19% of Valero Energy worth $76,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parsons Capital Management Inc. RI increased its holdings in Valero Energy by 2.2% during the third quarter. Parsons Capital Management Inc. RI now owns 5,231 shares of the oil and gas company’s stock worth $559,000 after buying an additional 115 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Valero Energy by 13.8% during the third quarter. Avantax Advisory Services Inc. now owns 22,091 shares of the oil and gas company’s stock worth $2,360,000 after buying an additional 2,682 shares during the last quarter. MidWestOne Financial Group Inc. boosted its position in Valero Energy by 262.5% during the second quarter. MidWestOne Financial Group Inc. now owns 8,982 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 6,504 shares during the period. Canada Pension Plan Investment Board boosted its position in Valero Energy by 29.9% during the third quarter. Canada Pension Plan Investment Board now owns 276,830 shares of the oil and gas company’s stock worth $29,579,000 after purchasing an additional 63,800 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in Valero Energy by 1.3% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,119 shares of the oil and gas company’s stock worth $1,509,000 after purchasing an additional 176 shares during the period. 79.28% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Down 5.5 %

Shares of NYSE VLO opened at $124.33 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The company has a market cap of $46.15 billion, a price-to-earnings ratio of 4.27, a PEG ratio of 0.91 and a beta of 1.65. Valero Energy Co. has a 12 month low of $84.22 and a 12 month high of $150.39. The stock has a 50-day moving average price of $135.35 and a two-hundred day moving average price of $126.20.

Valero Energy (NYSE:VLO – Get Rating) last issued its earnings results on Thursday, January 26th. The oil and gas company reported $8.45 EPS for the quarter, topping the consensus estimate of $7.45 by $1.00. The firm had revenue of $41.75 billion during the quarter, compared to the consensus estimate of $43.31 billion. Valero Energy had a return on equity of 50.15% and a net margin of 6.54%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, analysts forecast that Valero Energy Co. will post 24.37 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Tuesday, February 14th will be paid a $1.02 dividend. The ex-dividend date is Monday, February 13th. This represents a $4.08 annualized dividend and a dividend yield of 3.28%. This is an increase from Valero Energy’s previous quarterly dividend of $0.98. Valero Energy’s dividend payout ratio is currently 14.01%.

Analyst Ratings Changes

A number of equities analysts have commented on VLO shares. Morgan Stanley lifted their price objective on shares of Valero Energy from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. BMO Capital Markets raised shares of Valero Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $160.00 in a research report on Tuesday, January 17th. StockNews.com cut shares of Valero Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. Royal Bank of Canada boosted their target price on shares of Valero Energy from $156.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Finally, Raymond James boosted their target price on shares of Valero Energy from $169.00 to $174.00 and gave the company a “strong-buy” rating in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus target price of $151.38.

Valero Energy Company Profile

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Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment consists of refining operations, associated marketing activities, and logistics assets that support its refining operations.