iA Global Asset Management Inc. trimmed its position in Valero Energy Corporation (NYSE:VLO – Free Report) by 83.1% in the first quarter, Holdings Channel reports. The fund owned 5,197 shares of the oil and gas company’s stock after selling 25,518 shares during the quarter. iA Global Asset Management Inc.’s holdings in Valero Energy were worth $1,284,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of VLO. Woodline Partners LP boosted its stake in shares of Valero Energy by 40.7% during the first quarter. Woodline Partners LP now owns 26,747 shares of the oil and gas company’s stock valued at $3,532,000 after purchasing an additional 7,735 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Valero Energy by 13.0% in the second quarter. Sivia Capital Partners LLC now owns 1,929 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 222 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Valero Energy in the second quarter valued at approximately $528,000. Sei Investments Co. raised its holdings in Valero Energy by 11.3% in the 2nd quarter. Sei Investments Co. now owns 269,043 shares of the oil and gas company’s stock valued at $36,165,000 after buying an additional 27,291 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Valero Energy by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 145,810 shares of the oil and gas company’s stock valued at $19,600,000 after buying an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.
Valero Energy Stock Performance
NYSE:VLO opened at $267.99 on Friday. The company has a market capitalization of $79.57 billion, a PE ratio of 19.48, a P/E/G ratio of 0.37 and a beta of 0.55. The company has a 50 day simple moving average of $249.06 and a two-hundred day simple moving average of $220.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. Valero Energy Corporation has a fifty-two week low of $130.78 and a fifty-two week high of $274.92.
Valero Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, May 21st. Valero Energy’s dividend payout ratio (DPR) is currently 34.88%.
Insiders Place Their Bets
In related news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Wolfe Research reiterated an “underperform” rating and set a $203.00 target price on shares of Valero Energy in a research report on Tuesday, April 21st. BMO Capital Markets upped their price target on shares of Valero Energy from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Piper Sandler raised their price target on shares of Valero Energy from $236.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. The Goldman Sachs Group lifted their price target on shares of Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Finally, Barclays boosted their price objective on shares of Valero Energy from $261.00 to $279.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $247.59.
Read Our Latest Report on Valero Energy
Valero Energy Profile
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.
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