International Assets Investment Management LLC Sells 3,674 Shares of Valero Energy Corporation $VLO

Key Points

• International Assets Investment Management LLC cut its Valero Energy stake by 45% in the first quarter, selling 3,674 shares and leaving it with 4,492 shares valued at about $1.085 million.
• Valero reported strong first-quarter earnings, with EPS of $4.22 beating estimates by $1.06 and revenue of $32.38 billion, up 7% year over year.
• The stock has risen sharply, recently trading near its 52-week high, while analysts remain mostly constructive with a consensus rating of “Moderate Buy” and an average target price of $250.53.

International Assets Investment Management LLC decreased its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 45.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,492 shares of the oil and gas company's stock after selling 3,674 shares during the quarter. International Assets Investment Management LLC's holdings in Valero Energy were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC lifted its stake in shares of Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock worth $26,000 after buying an additional 102 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Valero Energy in the 3rd quarter valued at about $27,000. Financial Life Planners acquired a new position in Valero Energy in the 1st quarter valued at about $28,000. Valued Wealth Advisors LLC raised its holdings 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 valued at $29,000 after acquiring an additional 67 shares during the period. Finally, Torren Management LLC bought a new position in Valero Energy in the 4th quarter valued at about $30,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Valero Energy stock opened at $295.96 on Tuesday. The firm has a market cap of $87.88 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15. The stock's fifty day moving average price is $254.22 and its two-hundred day moving average price is $225.92. Valero Energy Corporation has a one year low of $130.78 and a one year high of $297.66.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $31.38 billion. During the same period in the prior year, the firm posted $0.89 EPS. Valero Energy's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Valero Energy Corporation will post 31.04 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed 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. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, May 21st. Valero Energy's dividend payout ratio is presently 34.88%.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research analyst reports. Piper Sandler boosted their price objective on Valero Energy from $236.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Wells Fargo & Company increased their target price on Valero Energy from $220.00 to $292.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Wall Street Zen raised Valero Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 4th. Raymond James Financial upped their price objective on Valero Energy from $300.00 to $340.00 and gave the company a "strong-buy" rating in a report on Monday. Finally, Citigroup increased their price objective on Valero Energy from $246.00 to $259.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and an average target price of $250.53.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the firm's 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.

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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