Baird Financial Group Inc. Sells 6,543 Shares of Valero Energy Corporation $VLO

Key Points

• Baird Financial Group reduced its Valero Energy stake by 5.4%, selling 6,543 shares and retaining 113,973 shares valued at approximately $29.7 million. Institutional investors and hedge funds collectively own 78.69% of Valero.
• Valero reported quarterly earnings of $12.54 per share, beating estimates of $10.11, while revenue rose 48.8% year over year to $44.48 billion. The company also paid a quarterly dividend of $1.20 per share, equivalent to a 1.2% yield.
• Analysts maintain a “Moderate Buy” consensus rating, with two Strong Buy, ten Buy, eight Hold and one Sell recommendation; the average price target is $301.76, below the reported share price of $385.92.

Baird Financial Group Inc. trimmed its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,973 shares of the oil and gas company's stock after selling 6,543 shares during the period. Baird Financial Group Inc.'s holdings in Valero Energy were worth $29,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Financial Management LLC lifted its position in shares of Valero Energy by 57.6% during the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 38 shares during the period. Whipplewood Advisors LLC boosted its position in shares of Valero Energy by 3,400.0% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after buying an additional 102 shares during the last quarter. Financial Life Planners purchased a new position in Valero Energy during the 1st quarter worth $28,000. Valued Wealth Advisors LLC grew its position in Valero Energy by 134.0% in the 1st 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 in the last quarter. Finally, Global Assets Advisory LLC bought a new position in shares of Valero Energy in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of VLO opened at $385.92 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 $155.29 and a one year high of $393.54. The firm has a market capitalization of $111.12 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.44 and a beta of 0.57. The company has a 50-day simple moving average of $324.54 and a two-hundred day simple moving average of $270.47.

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, 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 business had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. Valero Energy's quarterly revenue was up 48.8% on a year-over-year basis. On average, analysts anticipate that Valero Energy Corporation will post 41.15 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, July 31st were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, July 31st. Valero Energy's dividend payout ratio is 19.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VLO shares. Erste Group Bank lowered shares of Valero Energy from a "buy" rating to a "hold" rating in a research note on Thursday, August 27th. Barclays upped their price target on Valero Energy from $279.00 to $323.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Raymond James Financial upped their price target on shares of Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a report on Monday, July 13th. TD Cowen raised their target price on shares of Valero Energy from $338.00 to $350.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Finally, UBS Group raised their price target on Valero Energy from $355.00 to $450.00 and gave the company a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $301.76.

Insider Transactions at Valero Energy

In other news, SVP Eric Fisher sold 7,500 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president owned 19,742 shares of the company's stock, valued at $5,294,212.14. The trade was a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.36% of the company's stock.

Valero Energy Company 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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