Fifth Third Bancorp Lowers Stake in Valero Energy Co. (NYSE:VLO)

Fifth Third Bancorp reduced its stake in shares of Valero Energy Co. (NYSE:VLOGet Rating) by 6.6% in the third quarter, Holdings Channel reports. The firm owned 9,419 shares of the oil and gas company’s stock after selling 663 shares during the period. Fifth Third Bancorp’s holdings in Valero Energy were worth $1,006,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Denali Advisors LLC purchased a new stake in Valero Energy in the third quarter worth about $107,000. NewSquare Capital LLC raised its holdings in Valero Energy by 8.0% in the third quarter. NewSquare Capital LLC now owns 52,314 shares of the oil and gas company’s stock worth $5,590,000 after purchasing an additional 3,873 shares in the last quarter. Versor Investments LP bought a new position in Valero Energy in the third quarter worth about $2,036,000. Texas Permanent School Fund raised its holdings in Valero Energy by 3.4% in the third quarter. Texas Permanent School Fund now owns 55,744 shares of the oil and gas company’s stock worth $5,956,000 after purchasing an additional 1,841 shares in the last quarter. Finally, First Merchants Corp raised its holdings in Valero Energy by 7.9% in the third quarter. First Merchants Corp now owns 43,141 shares of the oil and gas company’s stock worth $4,609,000 after purchasing an additional 3,160 shares in the last quarter. 79.28% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Trading Up 0.8 %

Shares of NYSE:VLO opened at $127.56 on Monday. The business’s 50 day moving average price is $127.89 and its 200-day moving average price is $117.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 0.93. The firm has a market capitalization of $49.18 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.63. Valero Energy Co. has a 1 year low of $75.04 and a 1 year high of $146.80.

Valero Energy (NYSE:VLOGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The oil and gas company reported $7.14 earnings per share for the quarter, beating analysts’ consensus estimates of $7.00 by $0.14. The company had revenue of $44.45 billion for the quarter, compared to analyst estimates of $41.16 billion. Valero Energy had a return on equity of 43.20% and a net margin of 5.53%. The firm’s revenue for the quarter was up 50.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. On average, equities research analysts forecast that Valero Energy Co. will post 27.23 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th were issued a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $3.92 dividend on an annualized basis and a yield of 3.07%. Valero Energy’s payout ratio is currently 16.73%.

Analysts Set New Price Targets

A number of equities analysts have commented on VLO shares. Raymond James boosted their target price on shares of Valero Energy from $150.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 26th. Barclays upped their price objective on shares of Valero Energy from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, October 26th. Cowen cut their price objective on shares of Valero Energy to $127.00 in a report on Tuesday, September 20th. Wells Fargo & Company upped their price objective on shares of Valero Energy from $137.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday. Finally, StockNews.com downgraded shares of Valero Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 6th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus price target of $139.00.

Insider Buying and Selling at Valero Energy

In other Valero Energy news, CEO Joseph W. Gorder sold 37,567 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $127.00, for a total value of $4,771,009.00. Following the transaction, the chief executive officer now owns 569,786 shares in the company, valued at approximately $72,362,822. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Valero Energy news, EVP Gary K. Simmons sold 1,750 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $135.16, for a total value of $236,530.00. Following the completion of the sale, the executive vice president now directly owns 165,299 shares of the company’s stock, valued at approximately $22,341,812.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph W. Gorder sold 37,567 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $127.00, for a total value of $4,771,009.00. Following the completion of the sale, the chief executive officer now directly owns 569,786 shares of the company’s stock, valued at $72,362,822. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.

Valero Energy Company Profile

(Get Rating)

Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.

Further Reading

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Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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