7,072 Valero Energy Corporation $VLO Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its Valero Energy stake by 11.7%, selling 7,072 shares in the third quarter and retaining 53,201 shares valued at about $20.7 million.
• Valero reported quarterly EPS of $23.90, beating estimates of $21.17, while revenue rose 43.3% year over year to $46.10 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $406.32. Valero also announced a quarterly dividend of $1.20 per share.

Candriam S.C.A. cut its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 11.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,201 shares of the oil and gas company's stock after selling 7,072 shares during the period. Candriam S.C.A.'s holdings in Valero Energy were worth $20,697,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Zone Wealth Advisors LLC increased its stake in Valero Energy by 2.4% during the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 1,027 shares of the oil and gas company's stock worth $398,000 after buying an additional 24 shares during the period. Grove Bank & Trust boosted its position in Valero Energy by 1.0% in the 3rd quarter. Grove Bank & Trust now owns 2,608 shares of the oil and gas company's stock valued at $1,011,000 after buying an additional 25 shares during the period. 180 Wealth Advisors LLC boosted its position in Valero Energy by 0.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 5,317 shares of the oil and gas company's stock valued at $2,061,000 after buying an additional 28 shares during the period. Sigma Planning Corp grew its stake in shares of Valero Energy by 0.4% in the third quarter. Sigma Planning Corp now owns 7,171 shares of the oil and gas company's stock worth $2,779,000 after acquiring an additional 29 shares in the last quarter. Finally, Modera Wealth Management LLC grew its stake in shares of Valero Energy by 3.7% in the third quarter. Modera Wealth Management LLC now owns 956 shares of the oil and gas company's stock worth $370,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VLO. Citigroup upped their price objective on Valero Energy from $485.00 to $490.00 and gave the stock a "neutral" rating in a research report on Friday, October 23rd. Barclays lifted their target price on Valero Energy from $441.00 to $443.00 and gave the company an "overweight" rating in a report on Friday, October 23rd. Zacks Research raised Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Wells Fargo & Company boosted their target price on Valero Energy from $485.00 to $489.00 and gave the stock an "overweight" rating in a research note on Friday, October 23rd. Finally, UBS Group restated a "buy" rating and set a $467.00 price target (up from $355.00) on shares of Valero Energy in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $406.32.

Valero Energy Stock Down 0.0%

Shares of Valero Energy stock opened at $346.29 on Monday. Valero Energy Corporation has a 52-week low of $159.90 and a 52-week high of $461.52. The company has a 50 day moving average of $399.61 and a 200 day moving average of $289.61. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $96.57 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.18 and a beta of 0.58.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating analysts' consensus estimates of $21.17 by $2.73. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The company had revenue of $46.10 billion for the quarter, compared to the consensus estimate of $42.71 billion. During the same period in the prior year, the firm posted $3.66 EPS. The company's quarterly revenue was up 43.3% compared to the same quarter last year. As a group, research analysts forecast that Valero Energy Corporation will post 57.83 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, November 24th. Valero Energy's payout ratio is 10.80%.

Valero Energy Company Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.

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