First Citizens Bank & Trust Co. Sells 2,803 Shares of Valero Energy Corporation $VLO

First Citizens Bank & Trust Co. lowered its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 27.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,589 shares of the oil and gas company’s stock after selling 2,803 shares during the period. First Citizens Bank & Trust Co.’s holdings in Valero Energy were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLO. Whipplewood Advisors LLC boosted its holdings in shares of Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after buying an additional 102 shares in the last quarter. Financial Life Planners bought a new stake in shares of Valero Energy in the 1st quarter valued at $28,000. Valued Wealth Advisors LLC increased its stake in shares of Valero Energy by 134.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Valero Energy during the 1st quarter valued at $33,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Valero Energy during the 3rd quarter valued at $27,000. 78.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VLO shares. Wells Fargo & Company increased their target price on shares of Valero Energy from $220.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Zacks Research lowered shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Mizuho upped their price objective on shares of Valero Energy from $222.00 to $289.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. TD Cowen increased their price objective on shares of Valero Energy from $292.00 to $338.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Raymond James Financial raised 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and an average price target of $262.82.

Insider Activity at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the company’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 sale, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This represents a 27.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.

Valero Energy News Roundup

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: Goldman Sachs raised Valero Energy’s price target to $357 from $286 and kept a buy rating, signaling meaningful upside from current levels. Benzinga article
• Positive Sentiment: TD Cowen also lifted its price target on Valero to $338 from $292, reinforcing improving Street sentiment on the stock. Benzinga article
• Positive Sentiment: A recent comparison of Valero vs. Cenovus Energy argued that VLO’s refining advantage and near-term upside make it the more attractive energy stock right now. Yahoo Finance article
• Neutral Sentiment: Another article echoed the same Valero vs. Cenovus comparison, but it was more of an opinion/research piece than a new operational update for VLO. Zacks article
• Neutral Sentiment: Zacks also published a long-term growth article naming Valero as a top growth stock, which is supportive but not a direct catalyst. Zacks article

Valero Energy Price Performance

Shares of VLO opened at $310.90 on Thursday. Valero Energy Corporation has a 12-month low of $130.78 and a 12-month high of $320.24. The business’s fifty day moving average is $262.98 and its 200 day moving average is $232.93. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The stock has a market cap of $92.32 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.38 and a beta of 0.55.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The business had revenue of $32.38 billion during the quarter, compared to analyst estimates of $31.38 billion. During the same quarter in the previous year, the business posted $0.89 EPS. Valero Energy’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Corporation will post 32.61 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced 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 of this dividend is Friday, July 31st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Valero Energy’s payout ratio is presently 34.88%.

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.