Essential Partners LLC Sells 3,903 Shares of Valero Energy Corporation $VLO

Key Points

• Essential Partners LLC cut its Valero Energy stake by 76.7% in the second quarter, selling 3,903 shares and retaining 1,184 shares valued at approximately $308,000. Institutional investors collectively own 78.69% of VLO.
• Valero is benefiting from a favorable refining environment, including record diesel and elevated gasoline prices. Analysts have also raised earnings estimates, while unusually high put-option activity signals some downside hedging.
• Valero reported quarterly EPS of $12.54, beating estimates by $2.43, on revenue of $44.48 billion, up 48.8% year over year. The company declared a quarterly dividend of $1.20, or $4.80 annualized, yielding about 1.4%.

Essential Partners LLC lowered its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 76.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,184 shares of the oil and gas company's stock after selling 3,903 shares during the quarter. Essential Partners LLC's holdings in Valero Energy were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in VLO. Sierra Summit Advisors LLC raised its holdings in Valero Energy by 2,325.2% during the fourth quarter. Sierra Summit Advisors LLC now owns 36,378 shares of the oil and gas company's stock valued at $5,922,000 after acquiring an additional 34,878 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Valero Energy by 846.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,752 shares of the oil and gas company's stock worth $2,401,000 after acquiring an additional 13,194 shares during the period. North Dakota State Investment Board bought a new position in shares of Valero Energy in the fourth quarter worth about $1,743,000. Fort Washington Investment Advisors Inc. OH grew its position in shares of Valero Energy by 4.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company's stock worth $47,546,000 after purchasing an additional 7,702 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Valero Energy by 51.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 350,913 shares of the oil and gas company's stock worth $57,125,000 after purchasing an additional 118,506 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy News Summary

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: Record diesel prices are creating an attractive margin environment for refiners. Valero is identified among the companies positioned to benefit as fuel prices diverge from crude oil prices, potentially supporting near-term profits. Diesel Prices Are Breaking Records: 3 Refiners Turning the Crisis Into Record Profits
• Positive Sentiment: Gasoline prices above $4 per gallon are supporting the outlook for refiners capable of capturing strong fuel margins. Valero was included among refining stocks viewed favorably in this environment. 4 Refining Stocks to Buy as Gas Prices Top $4 a Gallon
• Positive Sentiment: Analysts are raising earnings estimates for Valero, a trend that could provide additional support for the stock after its recent gains. Earnings Estimates Moving Higher for Valero Energy
• Positive Sentiment: VLO was added to multiple Zacks Rank #1 (Strong Buy) lists, including value, growth and overall Strong Buy screens. These rankings may attract additional buying from quantitative and momentum-focused investors. New Strong Buy Stocks for August 17th
• Neutral Sentiment: Unusually heavy put-option activity suggests some traders are positioning for downside or hedging existing holdings. Investors purchased 23,642 puts, about 179% above typical volume, but options activity alone does not establish a fundamental change in Valero’s outlook. Investors Purchase Large Volume of Put Options on Valero Energy

Valero Energy Price Performance

Shares of Valero Energy stock opened at $350.14 on Wednesday. The stock has a 50 day moving average of $287.63 and a 200 day moving average of $250.74. Valero Energy Corporation has a 12 month low of $136.87 and a 12 month high of $351.00. The firm has a market cap of $100.82 billion, a PE ratio of 14.53, a PEG ratio of 0.23 and a beta of 0.55. 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 (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business had revenue of $44.48 billion during the quarter, compared to analysts' expectations of $39.47 billion. During the same quarter last year, the business posted $2.28 EPS. The firm's revenue for the quarter was up 48.8% compared to the same quarter last year. On average, research analysts expect that Valero Energy Corporation will post 40.62 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm 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 $1.20 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. Valero Energy's dividend payout ratio (DPR) is 19.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VLO shares. UBS Group boosted their price target on Valero Energy from $280.00 to $355.00 and gave the stock a "buy" rating in a report on Friday, July 31st. TD Cowen increased their price objective on shares of Valero Energy from $338.00 to $350.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Scotiabank lifted their price objective on shares of Valero Energy from $178.00 to $226.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Piper Sandler reissued an "overweight" rating and issued a $329.00 target price on shares of Valero Energy in a report on Thursday, July 23rd. Finally, Raymond James Financial upped their target price on shares of Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a research report 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $288.00.

Insiders Place Their Bets

In related news, SVP Eric A. 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 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. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company's stock.

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.

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.

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