Meiji Yasuda Asset Management Co Ltd. Has $2.98 Million Stock Position in Valero Energy Corporation $VLO

Meiji Yasuda Asset Management Co Ltd. lowered its stake in Valero Energy Corporation (NYSE:VLO) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,441 shares of the oil and gas company’s stock after selling 1,710 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Valero Energy were worth $2,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Valero Energy during the fourth quarter worth $1,111,542,000. Arrowstreet Capital Limited Partnership bought a new position in Valero Energy during the 3rd quarter worth about $275,239,000. Pacer Advisors Inc. increased its holdings in Valero Energy by 2,635.7% during the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company’s stock worth $154,736,000 after purchasing an additional 915,782 shares in the last quarter. Amundi raised its stake in shares of Valero Energy by 45.3% in the 1st quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after purchasing an additional 806,018 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Valero Energy by 49.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,696,811 shares of the oil and gas company’s stock valued at $276,224,000 after purchasing an additional 560,116 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.

Insider Activity

In related news, SVP Eric A. Fisher sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $268.17, for a total value 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VLO. UBS Group upped their price objective on Valero Energy from $280.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Raymond James Financial boosted their target price 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. The Goldman Sachs Group upped their price target on Valero Energy from $286.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. TD Cowen raised their price target on shares of Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $288.00.

Valero Energy Stock Performance

Shares of NYSE VLO opened at $346.15 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The stock has a 50 day moving average price of $294.91 and a 200 day moving average price of $255.29. The stock has a market capitalization of $99.67 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55. Valero Energy Corporation has a 52 week low of $144.30 and a 52 week high of $353.00.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.28 EPS. The business’s revenue was up 48.8% compared to the same quarter last year. Analysts predict that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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 paid 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 payout ratio is currently 19.92%.

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.