Gabelli Funds LLC Sells 1,850 Shares of Valero Energy Corporation $VLO

Gabelli Funds LLC lowered its position in shares of Valero Energy Corporation (NYSE:VLO) by 2.4% in the second quarter, Holdings Channel reports. The institutional investor owned 76,683 shares of the oil and gas company’s stock after selling 1,850 shares during the period. Gabelli Funds LLC’s holdings in Valero Energy were worth $19,971,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Whipplewood Advisors LLC raised its stake in Valero Energy by 3,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Valero Energy during the 3rd quarter worth approximately $27,000. Financial Life Planners bought a new position in shares of Valero Energy during the first quarter worth approximately $28,000. Valued Wealth Advisors LLC increased its holdings in shares of Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Valero Energy in the fourth quarter valued at approximately $30,000. Institutional investors own 78.69% of the company’s stock.

Insiders Place Their Bets

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.36% of the stock is owned by corporate insiders.

Valero Energy Stock Up 2.3%

Shares of VLO opened at $349.27 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. Valero Energy Corporation has a 52 week low of $140.13 and a 52 week high of $352.70. The stock has a market capitalization of $100.57 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.23 and a beta of 0.55. The stock has a fifty day moving average of $292.93 and a 200-day moving average of $253.69.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, July 31st. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. Valero Energy’s dividend payout ratio is 19.92%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VLO. Jefferies Financial Group set a $350.00 target price on Valero Energy in a research report on Monday, August 3rd. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Raymond James Financial boosted their price target on Valero Energy from $300.00 to $340.00 and gave the company a “strong-buy” rating in a research note on Monday, July 13th. Mizuho upped their price objective on shares of Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, TD Cowen raised their target price on shares of Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $288.00.

Valero Energy Company Profile

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.