Intech Investment Management LLC Trims Stock Position in Valero Energy Corporation $VLO

Key Points

• Intech Investment Management cut its Valero Energy stake by 38.1% in the fourth quarter, selling 6,162 shares and ending with 10,000 shares valued at about $1.63 million.
• Valero reported strong quarterly results, with EPS of $4.22 beating estimates and revenue of $32.38 billion topping expectations. Revenue also rose 7% year over year, and analysts now expect full-year EPS of 26.51.
• The company recently declared a $1.20 quarterly dividend, equal to a 1.9% annualized yield, while Wall Street remains broadly positive with a Moderate Buy consensus and an average target price of $243.65.

Intech Investment Management LLC lessened its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the oil and gas company's stock after selling 6,162 shares during the quarter. Intech Investment Management LLC's holdings in Valero Energy were worth $1,628,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VLO. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Valero Energy during the 3rd quarter worth approximately $275,239,000. Pacer Advisors Inc. increased its holdings in shares of Valero Energy by 2,635.7% in the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company's stock valued at $154,736,000 after acquiring an additional 915,782 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in shares of Valero Energy in the 4th quarter valued at $46,854,000. Franklin Resources Inc. increased its holdings in shares of Valero Energy by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,273,517 shares of the oil and gas company's stock valued at $897,869,000 after acquiring an additional 249,195 shares during the period. Finally, Voloridge Investment Management LLC increased its holdings in shares of Valero Energy by 96.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 444,919 shares of the oil and gas company's stock valued at $75,752,000 after acquiring an additional 218,448 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of VLO opened at $259.05 on Friday. 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 stock has a market capitalization of $76.92 billion, a P/E ratio of 18.83, a P/E/G ratio of 0.39 and a beta of 0.55. The company's fifty day moving average is $244.23 and its two-hundred day moving average is $209.46. Valero Energy Corporation has a 1 year low of $125.77 and a 1 year high of $265.61.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The company had revenue of $32.38 billion for the quarter, compared to analysts' expectations of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. Valero Energy's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, sell-side analysts predict that Valero Energy Corporation will post 26.51 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, May 21st. Valero Energy's payout ratio is currently 34.88%.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 8,311 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $227.69, for a total value of $1,892,331.59. Following the transaction, the senior vice president directly owned 42,242 shares of the company's stock, valued at approximately $9,618,080.98. The trade was a 16.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their target price on shares of Valero Energy from $236.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Morgan Stanley lifted their target price on shares of Valero Energy from $182.00 to $222.00 and gave the company an "equal weight" rating in a report on Friday, April 24th. Barclays lifted their target price on shares of Valero Energy from $184.00 to $261.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. The Goldman Sachs Group lifted their target price on shares of Valero Energy from $203.00 to $237.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Finally, Raymond James Financial lifted their target price on shares of Valero Energy from $215.00 to $290.00 and gave the company a "strong-buy" rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Valero Energy currently has an average rating of "Moderate Buy" and a consensus target price of $243.65.

More Valero Energy News

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

• Positive Sentiment: Valero was named to Zacks’ #1 (Strong Buy) growth stocks list, which may be helping investor sentiment by signaling improving momentum and favorable analyst-style rankings. Best Growth Stocks to Buy for June 4th
• Positive Sentiment: Zacks said high oil prices may not fully derail Valero’s refining strength, pointing to tight global capacity and low fuel inventories that can keep refining margins supported. Why High Oil Prices Won't Fully Derail VLO's Refining Strength
• Positive Sentiment: Another Zacks note reiterated Valero as a strong value stock, adding to the case that the company remains attractive on fundamentals despite the recent run-up. Here's Why Valero Energy (VLO) is a Strong Value Stock
• Neutral Sentiment: Coverage focused on whether VLO can extend its move after hitting a 52-week high; this reflects strong performance, but also suggests the stock may need continued fundamental support to keep rising. Valero Energy Corporation (VLO) Hit a 52 Week High, Can the Run Continue?
• Negative Sentiment: One article flagged insider stock sales over the past year, which can be viewed as a cautious signal even though it does not necessarily change the company’s operating outlook. Possible Bearish Signals With Valero Energy Insiders Disposing Stock

Valero Energy 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.

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.