Valero Energy Corporation $VLO is Conning Inc.'s 7th Largest Position

Key Points

• Conning Inc. reduced its Valero Energy stake by 15.6% in the first quarter, but VLO still ranks as its 7th largest holding. The fund ended the period with 164,364 shares valued at about $40.6 million.
• Valero reported strong first-quarter results, with EPS of $4.22 beating estimates of $3.16 and revenue of $32.38 billion topping forecasts. Revenue also rose 7% from a year earlier.
• The company continues to reward shareholders with a quarterly dividend of $1.20 per share, equal to $4.80 annually and a 1.7% yield. Meanwhile, analysts remain generally constructive, with a Moderate Buy consensus and an average price target of $247.59.

Conning Inc. cut its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,364 shares of the oil and gas company's stock after selling 30,471 shares during the period. Valero Energy accounts for approximately 1.3% of Conning Inc.'s investment portfolio, making the stock its 7th biggest holding. Conning Inc. owned about 0.05% of Valero Energy worth $40,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VLO. Whipplewood Advisors LLC increased its position in 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 valued at $26,000 after buying an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Valero Energy in the third quarter worth about $27,000. Financial Life Planners purchased a new stake in shares of Valero Energy during the first quarter worth about $28,000. Valued Wealth Advisors LLC grew its stake in shares of Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 67 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of Valero Energy during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $280.54 on Friday. The firm has a market cap of $83.30 billion, a PE ratio of 20.39, a P/E/G ratio of 0.38 and a beta of 0.55. Valero Energy Corporation has a twelve month low of $130.78 and a twelve month high of $287.05. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $253.35 and a 200 day moving average price of $224.56.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results 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. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The business had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. During the same quarter last year, the business earned $0.89 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Valero Energy Corporation will post 28.72 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Valero Energy's payout ratio is 34.88%.

Trending Headlines about Valero Energy

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

• Positive Sentiment: Valero’s Gulf Coast refining network is benefiting from strong fuel demand, elevated crack spreads, and rising exports, which should support refining profitability. Strong Fuel Demand & Elevated Crack Spreads Support Valero's Outlook
• Positive Sentiment: Valero’s recent Russell reclassification into larger-cap and growth benchmarks may be drawing incremental index demand for the stock, while lower crude costs can help preserve refining margins. Why Valero (VLO) Is Up 5.0% After Russell Reclassification And Refining Margin Tailwinds
• Positive Sentiment: Renewed Middle East tensions and rising oil prices are keeping refining margins in focus, which can be supportive for Valero if crude costs remain softer than product prices. Can Valero Energy Benefit From Renewed Middle East Tensions?
• Neutral Sentiment: Valero is also being highlighted as a trending stock, which signals elevated investor attention but does not by itself change fundamentals. Valero Energy Corporation (VLO) Is a Trending Stock: Facts to Know Before Betting on It

Insider Transactions at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction 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 transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. The trade was a 27.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on VLO shares. Barclays lifted their price objective on shares of Valero Energy from $261.00 to $279.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Zacks Research lowered Valero Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Citigroup boosted their price target on Valero Energy from $246.00 to $259.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. TD Cowen increased their price objective on Valero Energy from $276.00 to $292.00 and gave the company a "hold" rating in a report on Monday, June 29th. Finally, Piper Sandler lifted their target price on Valero Energy from $236.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $247.59.

About Valero Energy

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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