Valero Energy Corporation $VLO Shares Sold by Conning Inc.

Conning Inc. trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 23.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 202,411 shares of the oil and gas company’s stock after selling 62,923 shares during the quarter. Valero Energy accounts for about 1.1% of Conning Inc.’s investment portfolio, making the stock its 26th biggest position. Conning Inc. owned approximately 0.07% of Valero Energy worth $34,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in Valero Energy during the 2nd quarter worth approximately $26,000. GFG Capital LLC acquired a new stake in shares of Valero Energy during the second quarter worth approximately $27,000. Highline Wealth Partners LLC grew its position in shares of Valero Energy by 70.2% during the third quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Valero Energy by 1,277.8% in the second quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after buying an additional 230 shares during the last quarter. Finally, Global Wealth Strategies & Associates acquired a new stake in Valero Energy in the third quarter valued at $34,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Erste Group Bank started coverage on Valero Energy in a research note on Monday, November 10th. They issued a “buy” rating for the company. Barclays boosted their price objective on Valero Energy from $169.00 to $184.00 and gave the company an “overweight” rating in a report on Monday, November 17th. TD Cowen increased their target price on Valero Energy from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Finally, Piper Sandler lowered their price target on Valero Energy from $223.00 to $217.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and an average price target of $183.00.

Valero Energy Stock Performance

Shares of VLO stock opened at $186.13 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $173.69 and a two-hundred day moving average of $160.47. The company has a market cap of $56.77 billion, a P/E ratio of 38.86, a PEG ratio of 1.08 and a beta of 0.77. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $192.00.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.51. The business had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 billion. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th were given a dividend of $1.13 per share. The ex-dividend date was Thursday, November 20th. This represents a $4.52 annualized dividend and a dividend yield of 2.4%. Valero Energy’s dividend payout ratio is currently 94.36%.

Insider Buying and Selling at Valero Energy

In related news, CFO Jason W. Fraser sold 9,933 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $174.02, for a total value of $1,728,540.66. Following the sale, the chief financial officer owned 134,196 shares of the company’s stock, valued at $23,352,787.92. This trade represents a 6.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company 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.