Ceredex Value Advisors LLC cut its stake in Valero Energy Corporation (NYSE:VLO – Free Report) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,712 shares of the oil and gas company’s stock after selling 14,788 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Valero Energy were worth $17,114,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its position in Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after buying an additional 102 shares during the period. Financial Life Planners acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $28,000. Valued Wealth Advisors LLC lifted its stake in Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Valero Energy during the 1st quarter worth $33,000. Finally, JPL Wealth Management LLC bought a new position in shares of Valero Energy in the third quarter worth about $27,000. Institutional investors own 78.69% of the company’s stock.
Insider Buying and Selling at Valero Energy
In related news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the sale, the senior vice president owned 19,742 shares in the company, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.
Valero Energy Price Performance
Valero Energy (NYSE:VLO – Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The business’s revenue for the quarter was up 48.8% compared to the same quarter last year. Equities analysts forecast that Valero Energy Corporation will post 40.62 EPS for the current year.
Valero Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. Valero Energy’s dividend payout ratio is 19.92%.
Analysts Set New Price Targets
VLO has been the subject of a number of research reports. TD Cowen increased their price target on Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. UBS Group lifted their price objective on shares of Valero Energy from $280.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, July 31st. The Goldman Sachs Group raised their price objective on Valero Energy from $286.00 to $357.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research report on Monday, August 3rd. Two research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and a consensus price target of $288.00.
Check Out Our Latest Report on Valero Energy
About Valero Energy
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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