AlTi Global Inc. Sells 7,876 Shares of Valero Energy Corporation $VLO

Key Points

• AlTi Global cut its Valero Energy stake by 61.1% in the second quarter, selling 7,876 shares and retaining 5,007 shares valued at approximately $1.3 million.
• Valero reported strong quarterly results, with EPS of $12.54 versus the $10.11 consensus estimate and revenue of $44.48 billion, up 48.8% year over year.
• The company declared a quarterly dividend of $1.20 per share, or $4.80 annualized, while analysts maintained a “Moderate Buy” consensus rating despite a $288 average price target.

AlTi Global Inc. lowered its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 61.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,007 shares of the oil and gas company's stock after selling 7,876 shares during the quarter. AlTi Global Inc.'s holdings in Valero Energy were worth $1,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. Woodline Partners LP raised its position in shares of Valero Energy by 40.7% in the first quarter. Woodline Partners LP now owns 26,747 shares of the oil and gas company's stock valued at $3,532,000 after purchasing an additional 7,735 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Valero Energy by 13.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,929 shares of the oil and gas company's stock worth $259,000 after buying an additional 222 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Valero Energy during the 2nd quarter worth $528,000. Sei Investments Co. grew its stake in Valero Energy by 11.3% in the 2nd quarter. Sei Investments Co. now owns 269,043 shares of the oil and gas company's stock valued at $36,165,000 after buying an additional 27,291 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Valero Energy by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 145,810 shares of the oil and gas company's stock valued at $19,600,000 after buying an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

NYSE:VLO opened at $341.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. Valero Energy Corporation has a one year low of $135.01 and a one year high of $346.09. The company has a fifty day moving average price of $283.92 and a 200 day moving average price of $247.97. The stock has a market cap of $98.29 billion, a P/E ratio of 14.16, a PEG ratio of 0.23 and a beta of 0.55.

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 (EPS) for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The company had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. During the same period last year, the business posted $2.28 EPS. The business's quarterly revenue was up 48.8% on a year-over-year basis. Analysts anticipate that Valero Energy Corporation will post 40.62 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 19.92%.

Insiders Place Their Bets

In related news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction dated 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 sale, the senior vice president directly owned 19,742 shares of the company's stock, valued at $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VLO shares. Piper Sandler reissued an "overweight" rating and set a $329.00 target price on shares of Valero Energy in a research report on Thursday, July 23rd. UBS Group raised their price target on Valero Energy from $280.00 to $355.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Zacks Research upgraded Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Wells Fargo & Company boosted their price objective on Valero Energy from $292.00 to $356.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Finally, Raymond James Financial increased their target price on Valero Energy from $300.00 to $340.00 and gave the company a "strong-buy" rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.00.

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.

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source