TD Waterhouse Canada Inc. lessened its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 47.8% in the second quarter, HoldingsChannel reports. The fund owned 24,571 shares of the oil and gas company’s stock after selling 22,516 shares during the period. TD Waterhouse Canada Inc.’s holdings in Valero Energy were worth $6,620,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC increased its position in Valero Energy by 0.6% during the 1st quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 42 shares during the period. M.E. Allison & CO. Inc. raised its stake in Valero Energy by 5.8% during the second quarter. M.E. Allison & CO. Inc. now owns 916 shares of the oil and gas company’s stock valued at $239,000 after buying an additional 50 shares during the last quarter. Ridgecrest Wealth Partners LLC boosted its stake in Valero Energy by 5.0% in the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 1,054 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 50 shares in the last quarter. CYBER HORNET ETFs LLC lifted its stake in shares of Valero Energy by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after buying an additional 51 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in Valero Energy by 32.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 51 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, SVP Eric Fisher sold 7,500 shares of the firm’s stock in a transaction dated 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 directly owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.
Valero Energy Trading Up 0.1%
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating the consensus estimate of $10.11 by $2.43. The business had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 EPS. On average, research analysts anticipate that Valero Energy Corporation will post 41.15 EPS for the current fiscal year.
Valero Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, July 31st were given a $1.20 dividend. The ex-dividend date was Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.3%. Valero Energy’s payout ratio is 19.92%.
Analysts Set New Price Targets
Several analysts recently commented on VLO shares. Raymond James Financial lifted their price objective on Valero Energy from $300.00 to $340.00 and gave the stock a “strong-buy” rating in a report on Monday, July 13th. Citigroup raised their target price on shares of Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price objective on Valero Energy from $232.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. The Goldman Sachs Group boosted their price objective on shares of Valero Energy from $286.00 to $357.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler increased their price target on Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.18.
View Our Latest Research Report on Valero Energy
Valero Energy Company 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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