Valero Energy Corporation $VLO Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Valero Energy Corporation (NYSE:VLO) by 4.8% during the third quarter, Holdings Channel reports. The fund owned 159,267 shares of the oil and gas company’s stock after selling 7,951 shares during the period. Pictet Asset Management Holding SA’s holdings in Valero Energy were worth $61,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in shares of Valero Energy during the second quarter worth approximately $1,195,943,000. Amundi increased its holdings in shares of Valero Energy by 45.3% in the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after purchasing an additional 806,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Valero Energy by 33.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after purchasing an additional 520,642 shares during the last quarter. Corient Private Wealth LP bought a new position in Valero Energy in the 2nd quarter worth approximately $59,917,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Valero Energy by 18.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after buying an additional 442,177 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on VLO shares. Dbs Bank lowered Valero Energy to a “hold” rating and set a $436.00 price objective on the stock. in a research report on Monday, October 19th. Raymond James Financial boosted their target price on Valero Energy from $450.00 to $530.00 in a research report on Monday, October 19th. Bank of America upped their price target on Valero Energy from $395.00 to $414.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. JPMorgan Chase & Co. raised their price target on Valero Energy from $339.00 to $439.00 and gave the company an “overweight” rating in a report on Thursday, October 8th. Finally, Barclays lifted their price objective on Valero Energy from $441.00 to $443.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $406.32.

Valero Energy Trading Up 2.9%

Shares of NYSE VLO opened at $356.64 on Tuesday. Valero Energy Corporation has a fifty-two week low of $159.90 and a fifty-two week high of $461.52. The firm has a market capitalization of $102.69 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. The company’s 50 day simple moving average is $399.69 and its 200 day simple moving average is $290.45.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, topping analysts’ consensus estimates of $21.17 by $2.73. The firm had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The business’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.66 EPS. On average, analysts predict that Valero Energy Corporation will post 57.83 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 24th. Valero Energy’s dividend payout ratio (DPR) is currently 10.80%.

About Valero Energy

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.