iA Global Asset Management Inc. Sells 25,518 Shares of Valero Energy Corporation $VLO

Key Points

• iA Global Asset Management cut its Valero Energy stake by 83.1% in the first quarter, selling 25,518 shares and leaving it with 5,197 shares valued at about $1.28 million.
• Institutional interest in Valero remains strong overall, with institutions owning 78.69% of the stock; several funds recently added large positions, including Norges Bank and Arrowstreet Capital.
• Analyst sentiment is mixed but constructive, with Valero carrying a Moderate Buy consensus and an average price target of $247.59; the stock also recently beat earnings expectations and pays a quarterly dividend of $1.20 per share.

iA Global Asset Management Inc. decreased its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 83.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,197 shares of the oil and gas company's stock after selling 25,518 shares during the quarter. iA Global Asset Management Inc.'s holdings in Valero Energy were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VLO. Norges Bank acquired a new stake in shares of Valero Energy in the fourth quarter valued at approximately $1,111,542,000. Arrowstreet Capital Limited Partnership acquired a new stake in Valero Energy during the third quarter worth approximately $275,239,000. Pacer Advisors Inc. increased its stake in Valero Energy by 2,635.7% during the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company's stock worth $154,736,000 after acquiring an additional 915,782 shares during the period. Victory Capital Management Inc. increased its stake in Valero Energy by 49.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,696,811 shares of the oil and gas company's stock worth $276,224,000 after acquiring an additional 560,116 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Valero Energy by 7.5% in the 4th quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company's stock valued at $922,728,000 after acquiring an additional 394,693 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on VLO shares. Morgan Stanley upped their target price on Valero Energy from $232.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 12th. Wolfe Research restated an "underperform" rating and issued a $203.00 price target on shares of Valero Energy in a research report on Tuesday, April 21st. The Goldman Sachs Group boosted their price target on Valero Energy from $203.00 to $237.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Mizuho upped their price objective on shares of Valero Energy from $222.00 to $289.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Valero Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $247.59.

Insider Buying and Selling

In other news, SVP Eric A. Fisher sold 7,500 shares of the 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 completion of the transaction, the senior vice president owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company's stock.

Valero Energy Trading Down 0.5%

Shares of VLO stock opened at $267.99 on Friday. Valero Energy Corporation has a fifty-two week low of $130.78 and a fifty-two week high of $274.92. The stock's fifty day moving average price is $249.06 and its two-hundred day moving average price is $220.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market cap of $79.57 billion, a PE ratio of 19.48, a P/E/G ratio of 0.37 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The company had revenue of $32.38 billion during the quarter, compared to analysts' expectations of $31.38 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. Valero Energy's revenue was up 7.0% on a year-over-year basis. Equities analysts predict that Valero Energy Corporation will post 28.37 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Valero Energy's payout ratio is presently 34.88%.

Valero Energy Company Profile

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.

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