Valero Energy Corporation $VLO Shares Sold by Cherokee Insurance Co

Cherokee Insurance Co reduced its holdings in Valero Energy Corporation (NYSE:VLO) by 19.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 18,350 shares of the oil and gas company’s stock after selling 4,500 shares during the quarter. Valero Energy makes up 1.7% of Cherokee Insurance Co’s portfolio, making the stock its 20th biggest position. Cherokee Insurance Co’s holdings in Valero Energy were worth $4,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VLO. V Square Quantitative Management LLC raised its stake in Valero Energy by 0.6% during the first quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 42 shares during the period. CYBER HORNET ETFs LLC boosted its stake in Valero Energy by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 51 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Valero Energy by 32.9% during the fourth 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. Providence Wealth Advisors LLC grew its holdings in shares of Valero Energy by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock valued at $1,564,000 after purchasing an additional 52 shares during the last quarter. Finally, KPP Advisory Services LLC raised its position in shares of Valero Energy by 2.5% during the 1st quarter. KPP Advisory Services LLC now owns 2,156 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 52 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO stock opened at $267.99 on Friday. Valero Energy Corporation has a 12-month low of $130.78 and a 12-month high of $274.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15. The firm has a market capitalization of $79.57 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. The business has a 50 day simple moving average of $249.73 and a 200 day simple moving average of $220.63.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The firm had revenue of $32.38 billion for the quarter, compared to the consensus estimate of $31.38 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that Valero Energy Corporation will post 28.37 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, May 21st. Valero Energy’s payout ratio is currently 34.88%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James Financial raised their price target on Valero Energy from $215.00 to $290.00 and gave the stock a “strong-buy” rating in a report on Wednesday, March 25th. The Goldman Sachs Group increased 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. Wolfe Research reiterated an “underperform” rating and issued a $203.00 target price on shares of Valero Energy in a research note on Tuesday, April 21st. UBS Group reissued a “buy” rating and set a $280.00 price target on shares of Valero Energy in a report on Thursday, June 11th. Finally, TD Cowen upped their price target on shares of Valero Energy from $276.00 to $292.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.59.

Insiders Place Their Bets

In related news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This represents a 27.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.36% of the stock is owned by insiders.

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.