Valero Energy Corporation $VLO Shares Sold by Amundi

Key Points

• Amundi reduced its Valero Energy stake by 29.8% in the second quarter, selling 770,090 shares and retaining 1.81 million shares valued at approximately $472.7 million. Institutional investors and hedge funds collectively own 78.69% of VLO.
• Analysts remain broadly positive, with Valero receiving a consensus “Moderate Buy” rating and an average price target of $296.18. Several firms recently raised their targets, including Wells Fargo to $389 and Raymond James to $340.
• Valero reported quarterly earnings of $12.54 per share, surpassing estimates of $10.11, while revenue rose 48.8% year over year to $44.48 billion. The company also maintains a quarterly dividend of $1.20 per share, or $4.80 annually.

Amundi lowered its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 29.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,814,886 shares of the oil and gas company's stock after selling 770,090 shares during the quarter. Amundi owned about 0.63% of Valero Energy worth $472,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VLO. HighTower Advisors LLC raised its stake in Valero Energy by 32.4% during the second quarter. HighTower Advisors LLC now owns 156,631 shares of the oil and gas company's stock worth $40,793,000 after purchasing an additional 38,296 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Valero Energy in the 2nd quarter valued at approximately $870,000. California State Teachers Retirement System increased its holdings in shares of Valero Energy by 40,516.1% during the 2nd quarter. California State Teachers Retirement System now owns 143,816,270 shares of the oil and gas company's stock worth $37,455,509,000 after buying an additional 143,462,183 shares during the last quarter. Greenland Capital Management LP acquired a new stake in shares of Valero Energy during the 2nd quarter worth approximately $398,000. Finally, Ameritas Advisory Services LLC raised its position in shares of Valero Energy by 76.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 3,775 shares of the oil and gas company's stock valued at $983,000 after buying an additional 1,634 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings upgraded Valero Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 6th. Wells Fargo & Company raised their target price on Valero Energy from $356.00 to $389.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Barclays lifted their target price on Valero Energy from $279.00 to $323.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Citigroup upped 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. Finally, Raymond James Financial increased their price target on Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $296.18.

Valero Energy Price Performance

VLO stock opened at $370.94 on Tuesday. The business's 50-day moving average is $317.34 and its two-hundred day moving average is $266.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. The firm has a market capitalization of $106.80 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.42 and a beta of 0.57. Valero Energy Corporation has a 1 year low of $153.20 and a 1 year high of $375.11.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping analysts' consensus estimates of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The business's revenue for the quarter was up 48.8% on a year-over-year basis. Analysts anticipate that Valero Energy Corporation will post 41.15 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, July 31st. Valero Energy's payout ratio is 19.92%.

Insider Buying and Selling

In other Valero Energy news, SVP Eric Fisher sold 7,500 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.36% of the stock is owned by company 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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