Valero Energy Corporation $VLO Stake Cut by Sigma Planning Corp

Key Points

• Sigma Planning Corp cut its Valero Energy stake by 45.7% in the second quarter, selling 6,013 shares and retaining 7,142 shares valued at approximately $1.86 million. Institutional investors and hedge funds collectively own 78.69% of VLO.
• Valero reported quarterly EPS of $12.54, exceeding 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, equivalent to a 1.3% yield.
• VLO shares traded near their 52-week high at $359.97, up 2.2%; analysts’ consensus rating is “Moderate Buy”, though the $288 average price target is below the current share price.

Sigma Planning Corp reduced its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 45.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,142 shares of the oil and gas company's stock after selling 6,013 shares during the quarter. Sigma Planning Corp's holdings in Valero Energy were worth $1,860,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of VLO. Whipplewood Advisors LLC grew its holdings in shares of Valero Energy by 3,400.0% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Financial Life Planners bought a new position in Valero Energy during the 1st quarter worth $28,000. Valued Wealth Advisors LLC increased its position in 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 buying an additional 67 shares during the period. Global Assets Advisory LLC bought a new stake in Valero Energy in the first quarter valued at $33,000. Finally, JPL Wealth Management LLC bought a new stake in Valero Energy in the third quarter valued at $27,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Trading Up 2.2%

NYSE:VLO opened at $359.97 on Tuesday. The stock has a market cap of $103.65 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55. Valero Energy Corporation has a fifty-two week low of $150.10 and a fifty-two week high of $362.79. 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 stock's 50-day moving average is $305.88 and its two-hundred day moving average is $260.60.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion during the quarter, compared to analyst estimates of $39.47 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. The firm's revenue was up 48.8% compared to the same quarter last year. As a group, equities research analysts forecast that Valero Energy Corporation will post 40.7 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VLO has been the topic of several analyst reports. Barclays raised their price target on shares of Valero Energy from $279.00 to $323.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Jefferies Financial Group set a $350.00 price objective on Valero Energy in a report on Monday, August 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $329.00 target price on shares of Valero Energy in a research note on Thursday, July 23rd. Morgan Stanley increased their price target on Valero Energy from $232.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 12th. Finally, TD Cowen raised their price target on Valero Energy from $338.00 to $350.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.00.

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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