Wellington Management Group LLP Sells 38,124 Shares of Valero Energy Corporation $VLO

Key Points

• Wellington Management Group LLP reduced its stake in Valero Energy Corporation by 1.4% during the first quarter, now owning approximately 2.71 million shares worth $358.58 million.
• Vanguard Group Inc. and other institutional investors increased their holdings in Valero Energy, with Vanguard boosting its stake by 12.0% to own over 38.88 million shares valued at $5.14 billion.
• Valero Energy reported earnings of $2.28 per share exceeding analyst expectations, with total revenue of $29.89 billion for the latest quarter, despite a year-over-year revenue decline of 13.3%.

Wellington Management Group LLP reduced its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,715,055 shares of the oil and gas company's stock after selling 38,124 shares during the quarter. Wellington Management Group LLP owned 0.87% of Valero Energy worth $358,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in VLO. First Trust Advisors LP boosted its stake in shares of Valero Energy by 11.1% during the 4th quarter. First Trust Advisors LP now owns 481,526 shares of the oil and gas company's stock valued at $59,030,000 after purchasing an additional 48,130 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Valero Energy by 0.6% in the fourth quarter. MetLife Investment Management LLC now owns 83,775 shares of the oil and gas company's stock worth $10,270,000 after buying an additional 489 shares in the last quarter. Transce3nd LLC bought a new position in shares of Valero Energy in the fourth quarter worth approximately $58,000. Tower Research Capital LLC TRC lifted its stake in shares of Valero Energy by 18.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,764 shares of the oil and gas company's stock worth $2,545,000 after buying an additional 3,227 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its stake in shares of Valero Energy by 3.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 108,161 shares of the oil and gas company's stock worth $13,259,000 after buying an additional 3,241 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

NYSE VLO traded up $4.9090 on Friday, reaching $145.1990. 2,106,347 shares of the stock were exchanged, compared to its average volume of 2,432,003. The firm has a market capitalization of $45.11 billion, a PE ratio of 60.50, a PEG ratio of 3.28 and a beta of 1.03. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. The company's 50-day simple moving average is $140.59 and its two-hundred day simple moving average is $130.93. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. Analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, July 31st. Valero Energy's payout ratio is currently 188.33%.

Analyst Ratings Changes

Several research firms recently issued reports on VLO. UBS Group upped their price objective on Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Raymond James Financial upped their price target on Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Piper Sandler upped their price target on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Mizuho upped their target price on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and upped their target price for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.