State Street Corp Sells 835,735 Shares of Valero Energy Corporation $VLO

State Street Corp trimmed its holdings in Valero Energy Corporation (NYSE:VLO) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,723,090 shares of the oil and gas company’s stock after selling 835,735 shares during the period. State Street Corp owned about 0.06% of Valero Energy worth $2,516,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Broadway Wealth Solutions Inc. raised its holdings in shares of Valero Energy by 3.8% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 69 shares during the last quarter. Park Place Capital Corp increased its holdings in Valero Energy by 21.8% during the 2nd quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 75 shares in the last quarter. Generali Investments Management Co LLC lifted its holdings in shares of Valero Energy by 3.7% in the second quarter. Generali Investments Management Co LLC now owns 2,137 shares of the oil and gas company’s stock valued at $287,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Valero Energy by 1.4% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock valued at $732,000 after buying an additional 78 shares during the last quarter. Finally, Summit Financial LLC grew its holdings in Valero Energy by 4.6% during the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company’s stock worth $239,000 after buying an additional 79 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $174.02, for a total value of $1,728,540.66. Following the sale, the chief financial officer directly owned 134,196 shares in the company, valued at $23,352,787.92. The trade was a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VLO has been the topic of several recent analyst reports. Wall Street Zen cut Valero Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Piper Sandler increased their target price on shares of Valero Energy from $201.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Barclays boosted their price target on shares of Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. JPMorgan Chase & Co. boosted their target price on Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Evercore ISI increased their price target on Valero Energy from $135.00 to $185.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.00.

Valero Energy Stock Performance

NYSE VLO opened at $175.42 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. The company has a market capitalization of $53.50 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 0.88 and a beta of 0.76. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $185.62. The company has a 50-day simple moving average of $170.66 and a 200 day simple moving average of $153.76.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The firm had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $28.80 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 20th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 20th. Valero Energy’s dividend payout ratio (DPR) is currently 94.36%.

Valero Energy Company 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.