Oppenheimer & Co. Inc. Sells 4,795 Shares of Valero Energy Corporation $VLO

Key Points

• Oppenheimer & Co. reduced its Valero Energy stake by 10.2% in the second quarter, selling 4,795 shares and retaining 42,419 shares valued at approximately $11.05 million. Institutional investors collectively own 78.69% of VLO.
• Analysts remain broadly positive, with Valero holding a consensus “Moderate Buy” rating and an average price target of $288. Recent targets range as high as $355, while the stock opened at $341.36 and is near its 12-month high.
• Valero reported strong quarterly results, earning $12.54 per share versus the $10.11 consensus and generating $44.48 billion in revenue. The company also declared a quarterly dividend of $1.20 per share, equivalent to a 1.4% annualized yield.

Oppenheimer & Co. Inc. cut its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,419 shares of the oil and gas company's stock after selling 4,795 shares during the period. Oppenheimer & Co. Inc.'s holdings in Valero Energy were worth $11,048,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC increased its position in Valero Energy by 3,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 102 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Valero Energy during the third quarter worth $27,000. Financial Life Planners acquired a new position in shares of Valero Energy during the first quarter worth $28,000. Valued Wealth Advisors LLC grew its stake in shares of Valero Energy by 134.0% in the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in Valero Energy in the fourth quarter valued at $30,000. 78.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VLO has been the subject of several analyst reports. Scotiabank raised their target price on Valero Energy from $178.00 to $226.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Morgan Stanley upped their price target 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. Citigroup increased their price target on Valero Energy from $259.00 to $302.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. UBS Group raised their price objective on Valero Energy from $280.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, TD Cowen lifted their price objective on Valero Energy from $338.00 to $350.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $288.00.

Valero Energy Price Performance

VLO stock opened at $341.36 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.64 and a debt-to-equity ratio of 0.37. The firm has a market cap of $98.29 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.23 and a beta of 0.55. The company's fifty day simple moving average is $283.92 and its 200 day simple moving average is $247.97. Valero Energy Corporation has a 12-month low of $135.01 and a 12-month high of $346.09.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping analysts' consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business's revenue was up 48.8% compared to the same quarter last year. During the same period last year, the business posted $2.28 EPS. On average, analysts expect that Valero Energy Corporation will post 40.62 earnings per share for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, July 31st. Valero Energy's payout ratio is presently 19.92%.

Insiders Place Their Bets

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was 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 approximately $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company's stock.

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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