Parsons Capital Management Inc. RI Trims Stake in Valero Energy Co. (NYSE:VLO)

Parsons Capital Management Inc. RI lessened its holdings in Valero Energy Co. (NYSE:VLO) by 8.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,385 shares of the oil and gas company’s stock after selling 528 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Valero Energy were worth $660,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in VLO. Quad Cities Investment Group LLC boosted its stake in shares of Valero Energy by 1.6% during the 3rd quarter. Quad Cities Investment Group LLC now owns 4,851 shares of the oil and gas company’s stock valued at $655,000 after purchasing an additional 75 shares in the last quarter. Providence Wealth Advisors LLC lifted its holdings in Valero Energy by 0.9% in the third quarter. Providence Wealth Advisors LLC now owns 8,784 shares of the oil and gas company’s stock worth $1,169,000 after buying an additional 75 shares during the period. New Century Financial Group LLC boosted its position in Valero Energy by 5.0% during the 3rd quarter. New Century Financial Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 81 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of Valero Energy by 1.7% during the 4th quarter. Segment Wealth Management LLC now owns 4,947 shares of the oil and gas company’s stock worth $606,000 after acquiring an additional 81 shares during the period. Finally, Opal Wealth Advisors LLC raised its position in shares of Valero Energy by 4.7% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,834 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VLO. Barclays reduced their price target on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. TD Cowen reduced their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Bank of America began coverage on shares of Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. BMO Capital Markets cut their price objective on shares of Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Scotiabank decreased their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.54.

Valero Energy Price Performance

NYSE VLO opened at $138.14 on Wednesday. Valero Energy Co. has a one year low of $116.84 and a one year high of $184.79. The stock has a 50-day moving average of $131.23 and a 200 day moving average of $137.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The company has a market capitalization of $43.73 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 2.81 and a beta of 1.42.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.27%. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Thursday, January 30th. Valero Energy’s payout ratio is presently 38.39%.

Valero Energy 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.