Cibc World Market Inc. Lowers Position in Valero Energy Corporation $VLO

Cibc World Market Inc. trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 22.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,227 shares of the oil and gas company’s stock after selling 57,805 shares during the period. Cibc World Market Inc.’s holdings in Valero Energy were worth $50,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in VLO. State Street Corp lifted its position in shares of Valero Energy by 0.9% in the 4th quarter. State Street Corp now owns 18,177,191 shares of the oil and gas company’s stock worth $2,959,065,000 after purchasing an additional 163,975 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Valero Energy by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,982 shares of the oil and gas company’s stock valued at $1,945,500,000 after purchasing an additional 63,919 shares in the last quarter. Norges Bank purchased a new position in Valero Energy during the fourth quarter valued at approximately $1,111,542,000. Franklin Resources Inc. raised its stake in Valero Energy by 7.5% in the fourth quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock worth $922,728,000 after buying an additional 394,693 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Valero Energy by 11.4% during the first quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after buying an additional 516,975 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Up 0.1%

NYSE:VLO opened at $349.27 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. Valero Energy Corporation has a twelve month low of $140.13 and a twelve month high of $352.70. The company has a market cap of $100.57 billion, a PE ratio of 14.49, a P/E/G ratio of 0.23 and a beta of 0.55. The company’s 50 day moving average is $292.93 and its two-hundred day moving average is $254.21.

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

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be paid a $1.20 dividend. The ex-dividend date is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. Valero Energy’s dividend payout ratio (DPR) is 19.92%.

Insider Buying and Selling

In related news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy 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 owned 19,742 shares of the company’s stock, valued at $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on VLO shares. Morgan Stanley increased their target price on Valero Energy from $232.00 to $255.00 and gave the company an “equal weight” rating in a research report on Friday, June 12th. Mizuho upped their price objective on Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. UBS Group raised their price objective on Valero Energy from $280.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Raymond James Financial boosted their target price on shares of Valero Energy from $300.00 to $340.00 and gave the stock a “strong-buy” rating in a report on Monday, July 13th. Finally, Barclays raised their price target on shares of Valero Energy from $279.00 to $323.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

Valero Energy 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.