Generali Investments Management Co LLC lessened its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 48.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,796 shares of the oil and gas company’s stock after selling 1,714 shares during the period. Generali Investments Management Co LLC’s holdings in Valero Energy were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of VLO. Friedenthal Financial purchased a new stake in Valero Energy during the fourth quarter worth $954,000. Robeco Institutional Asset Management B.V. increased its holdings in Valero Energy by 24.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 565,171 shares of the oil and gas company’s stock valued at $92,004,000 after buying an additional 112,118 shares in the last quarter. Whittier Trust Co. raised its position in shares of Valero Energy by 2.8% in the fourth quarter. Whittier Trust Co. now owns 212,104 shares of the oil and gas company’s stock worth $37,812,000 after acquiring an additional 5,694 shares during the period. Sierra Summit Advisors LLC raised its position in shares of Valero Energy by 2,325.2% in the fourth quarter. Sierra Summit Advisors LLC now owns 36,378 shares of the oil and gas company’s stock worth $5,922,000 after acquiring an additional 34,878 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Valero Energy by 846.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,752 shares of the oil and gas company’s stock worth $2,401,000 after acquiring an additional 13,194 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.
Insider Activity
In related news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by corporate insiders.
Valero Energy Trading Up 5.5%
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. During the same period in the previous year, the firm posted $2.28 EPS. Valero Energy’s revenue was up 48.8% compared to the same quarter last year. On average, sell-side analysts predict that Valero Energy Corporation will post 39.55 EPS for the current fiscal year.
Valero Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Valero Energy’s payout ratio is currently 19.92%.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on VLO shares. Scotiabank raised their target price on Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their price target on Valero Energy from $292.00 to $356.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings upgraded Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Mizuho raised their price objective on Valero Energy from $289.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Raymond James Financial boosted their price objective on Valero Energy from $300.00 to $340.00 and gave the company a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.
Get Our Latest Research 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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