The Manufacturers Life Insurance Company Sells 13,120 Shares of Valero Energy Corporation $VLO

Key Points

• The Manufacturers Life Insurance Company reduced its Valero Energy stake by 2.2%, selling 13,120 shares and retaining 594,472 shares valued at approximately $154.8 million. Institutional investors and hedge funds collectively own 78.69% of VLO.
• Valero reported quarterly earnings of $12.54 per share, exceeding estimates by $2.43, while revenue rose 48.8% year over year to $44.48 billion. The company also announced a $1.20 quarterly dividend, equivalent to a 1.4% yield.
• Analysts largely remain positive, with Valero receiving a consensus rating of “Moderate Buy” and an average price target of $288. Shares opened at $346.15, near the stock’s 52-week high of $353.00.

The Manufacturers Life Insurance Company decreased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 594,472 shares of the oil and gas company's stock after selling 13,120 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.21% of Valero Energy worth $154,824,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp increased its holdings in Valero Energy by 8.6% during the second quarter. Jones Financial Companies Lllp now owns 235,150 shares of the oil and gas company's stock worth $60,994,000 after buying an additional 18,627 shares during the last quarter. Front Street Capital Management Inc. acquired a new stake in Valero Energy in the second quarter valued at $203,000. Fiduciary Financial Advisors bought a new position in shares of Valero Energy in the 2nd quarter valued at about $89,000. L2 Asset Management LLC increased its stake in shares of Valero Energy by 3.7% during the 2nd quarter. L2 Asset Management LLC now owns 1,700 shares of the oil and gas company's stock worth $443,000 after purchasing an additional 60 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Valero Energy during the 2nd quarter worth about $1,912,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

NYSE VLO opened at $346.15 on Tuesday. The stock has a market cap of $99.67 billion, a PE ratio of 14.36, a P/E/G ratio of 0.23 and a beta of 0.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The firm has a 50-day moving average of $294.91 and a 200-day moving average of $255.29. Valero Energy Corporation has a 52-week low of $144.30 and a 52-week high of $353.00.

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

Valero Energy Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Valero Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Raymond James Financial boosted their price target on Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a research report on Monday, July 13th. Zacks Research upgraded Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Mizuho raised their price objective on Valero Energy from $289.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Barclays lifted their target price on Valero Energy from $279.00 to $323.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Valero Energy presently has an average rating of "Moderate Buy" and a consensus price target of $288.00.

Insider Buying and Selling at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president directly owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.36% of the company's 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.

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