The Manufacturers Life Insurance Company trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO – Free Report) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 594,472 shares of the oil and gas company’s stock after selling 13,120 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Valero Energy were worth $154,824,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the business. Cornerstone Financial Management LLC lifted its position in Valero Energy by 57.6% during the second quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. V Square Quantitative Management LLC grew 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 worth $1,648,000 after purchasing an additional 42 shares during the period. Ridgecrest Wealth Partners LLC raised its stake in shares of Valero Energy by 5.0% during the 2nd quarter. Ridgecrest Wealth Partners LLC now owns 1,054 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 50 shares during the last quarter. M.E. Allison & CO. Inc. raised its stake in shares of Valero Energy by 5.8% during the 2nd 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. Finally, CYBER HORNET ETFs LLC lifted its holdings in shares of Valero Energy by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 51 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
VLO has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Valero Energy from $356.00 to $389.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Piper Sandler raised their price objective on shares of Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Citigroup lifted 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. Raymond James Financial boosted their target price on shares of Valero Energy from $300.00 to $340.00 and gave the company a “strong-buy” rating in a research note on Monday, July 13th. Finally, UBS Group increased their price target on shares of Valero Energy from $355.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.76.
Insider Activity
In other news, SVP Eric Fisher sold 7,500 shares of Valero Energy 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 sale, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is currently owned by company insiders.
Valero Energy Stock Performance
Shares of VLO stock opened at $385.92 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. Valero Energy Corporation has a 12-month low of $155.29 and a 12-month high of $393.54. The business’s 50 day moving average is $324.54 and its two-hundred day moving average is $270.47. The company has a market capitalization of $111.12 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.44 and a beta of 0.57.
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 EPS for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. The business had revenue of $44.48 billion during the quarter, compared to analysts’ expectations of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business’s revenue was up 48.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.28 earnings per share. Analysts expect that Valero Energy Corporation will post 41.15 EPS for the current fiscal year.
Valero Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 31st. Valero Energy’s dividend payout ratio (DPR) is presently 19.92%.
Valero Energy Profile
Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.
Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.
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