Valero Energy Corporation (NYSE:VLO) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Valero Energy Corporation by 3.0%, owning 106,598 shares valued at approximately $14 million after selling 3,343 shares in the first quarter.
• Valero Energy's quarterly earnings surpassed expectations with $2.28 earnings per share, exceeding the consensus estimate by 36%, while revenue was reported at $29.89 billion.
• The company announced a quarterly dividend of $1.13 per share, with a dividend yield of 3.18%, and a payout ratio of 188.33%.

Mediolanum International Funds Ltd decreased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,598 shares of the oil and gas company's stock after selling 3,343 shares during the quarter. Mediolanum International Funds Ltd's holdings in Valero Energy were worth $14,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. Ameriprise Financial Inc. grew its position in shares of Valero Energy by 5.7% in the 4th quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock worth $973,119,000 after buying an additional 429,252 shares during the last quarter. Geode Capital Management LLC grew its position in Valero Energy by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company's stock worth $844,775,000 after purchasing an additional 100,248 shares during the last quarter. Franklin Resources Inc. grew its position in Valero Energy by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 4,759,172 shares of the oil and gas company's stock worth $583,427,000 after purchasing an additional 71,587 shares during the last quarter. Northern Trust Corp grew its position in Valero Energy by 15.9% during the 4th quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock worth $472,077,000 after purchasing an additional 529,513 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Valero Energy by 22.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company's stock valued at $351,151,000 after acquiring an additional 525,255 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Down 2.6%

VLO stock traded down $3.79 during midday trading on Wednesday, reaching $140.95. 1,694,216 shares of the company were exchanged, compared to its average volume of 3,373,715. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $167.78. The stock's 50-day simple moving average is $138.11 and its 200 day simple moving average is $131.10. The company has a market cap of $44.14 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 3.39 and a beta of 1.00.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The company had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. On average, equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.21%. Valero Energy's payout ratio is 188.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VLO shares. Barclays upped their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. reduced their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley upped their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Valero Energy has an average rating of "Moderate Buy" and an average price target of $154.47.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.