Valero Energy Corporation $VLO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Valero stake by 5.0%, selling 36,826 shares and ending the quarter with 693,742 shares (≈0.23% of the company) valued at about $112.93 million.
• Valero beat quarterly expectations, reporting $3.82 EPS vs. $3.27 expected and $30.37 billion in revenue vs. $28.20 billion expected, with analysts projecting roughly 7.92 EPS for the fiscal year.
• The company raised its quarterly dividend to $1.20 (annualized $4.80, ~2.0% yield) and analyst sentiment has firmed to a consensus Moderate Buy with a $227.73 target after multiple firms lifted price targets.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 693,742 shares of the oil and gas company's stock after selling 36,826 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Valero Energy worth $112,934,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in shares of Valero Energy by 17.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company's stock worth $27,377,000 after acquiring an additional 23,859 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Valero Energy in the 3rd quarter worth approximately $4,534,000. Cerity Partners LLC grew its position in shares of Valero Energy by 9.0% in the 3rd quarter. Cerity Partners LLC now owns 104,859 shares of the oil and gas company's stock worth $17,853,000 after acquiring an additional 8,638 shares in the last quarter. Tema Etfs LLC acquired a new position in shares of Valero Energy in the 3rd quarter worth approximately $1,669,000. Finally, National Pension Service grew its position in shares of Valero Energy by 3.6% in the 3rd quarter. National Pension Service now owns 491,134 shares of the oil and gas company's stock worth $83,620,000 after acquiring an additional 17,165 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Up 1.2%

VLO opened at $241.72 on Tuesday. Valero Energy Corporation has a one year low of $106.25 and a one year high of $258.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.11 and a current ratio of 1.64. The stock's fifty day moving average is $222.32 and its 200-day moving average is $190.15. The company has a market capitalization of $72.28 billion, a PE ratio of 31.64, a P/E/G ratio of 0.52 and a beta of 0.62.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $0.55. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The company had revenue of $30.37 billion for the quarter, compared to the consensus estimate of $28.20 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company's quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Thursday, February 5th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Valero Energy's previous quarterly dividend of $1.13. Valero Energy's dividend payout ratio (DPR) is presently 62.83%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Valero Energy from $203.00 to $237.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Morgan Stanley raised their price target on Valero Energy from $175.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 27th. BMO Capital Markets raised their price target on Valero Energy from $230.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. JPMorgan Chase & Co. raised their price target on Valero Energy from $197.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, January 8th. Finally, Argus raised Valero Energy to a "hold" rating in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.73.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $238.60, for a total value of $95,440.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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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