Sterling Capital Management LLC Lowers Holdings in Valero Energy Corporation $VLO

Sterling Capital Management LLC lowered its stake in shares of Valero Energy Corporation (NYSE:VLO) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,696 shares of the oil and gas company’s stock after selling 5,239 shares during the quarter. Sterling Capital Management LLC’s holdings in Valero Energy were worth $17,220,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. JPL Wealth Management LLC purchased a new stake in Valero Energy in the third quarter valued at approximately $27,000. Torren Management LLC acquired a new position in Valero Energy during the fourth quarter worth approximately $30,000. AXS Investments LLC purchased a new position in Valero Energy during the fourth quarter worth approximately $32,000. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Valero Energy by 157.0% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 124 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Valero Energy by 32.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 51 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Stock Up 1.6%

NYSE VLO opened at $259.05 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a fifty-two week low of $130.78 and a fifty-two week high of $265.61. The business has a 50 day moving average price of $246.28 and a two-hundred day moving average price of $217.36. The stock has a market cap of $76.92 billion, a PE ratio of 18.83, a P/E/G ratio of 0.36 and a beta of 0.55.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The company had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Valero Energy Corporation will post 27.45 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors 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 annualized dividend and a yield of 1.9%. Valero Energy’s payout ratio is 34.88%.

Insider Buying and Selling

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $236.90, for a total value of $1,776,750.00. Following the completion of the transaction, the senior vice president directly owned 27,242 shares of the company’s stock, valued at $6,453,629.80. This represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on VLO. Wall Street Zen raised shares of Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Scotiabank lifted their target price on Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Piper Sandler boosted their price target on Valero Energy from $236.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Barclays upped their price target on Valero Energy from $184.00 to $261.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Mizuho raised their price objective on Valero Energy from $222.00 to $289.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $245.59.

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.