Wellington Management Group LLP Sells 616,249 Shares of Valero Energy Corporation $VLO

Wellington Management Group LLP cut its stake in Valero Energy Corporation (NYSE:VLO) by 47.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,975 shares of the oil and gas company’s stock after selling 616,249 shares during the period. Wellington Management Group LLP’s holdings in Valero Energy were worth $180,999,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Valero Energy by 0.9% in the fourth 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. lifted its position in 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 worth $1,945,500,000 after purchasing an additional 63,919 shares during the period. Norges Bank acquired a new stake in Valero Energy during the fourth quarter worth about $1,111,542,000. Franklin Resources Inc. grew its stake in Valero Energy by 7.5% during 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 increased its holdings in Valero Energy by 11.4% in the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock valued at $1,243,630,000 after buying an additional 516,975 shares during the period. 78.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VLO has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Valero Energy from $286.00 to $357.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on shares of Valero Energy from $292.00 to $356.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Mizuho lifted their price objective on shares of Valero Energy from $289.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Erste Group Bank downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings raised Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

Valero Energy Price Performance

Valero Energy stock opened at $359.97 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $103.65 billion, a PE ratio of 14.94, a P/E/G ratio of 0.23 and a beta of 0.55. Valero Energy Corporation has a 12 month low of $150.10 and a 12 month high of $362.79. The stock has a 50-day moving average price of $305.88 and a two-hundred day moving average price of $260.60.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business’s revenue for the quarter was up 48.8% on a year-over-year basis. During the same period last year, the firm posted $2.28 earnings per share. Analysts expect that Valero Energy Corporation will post 40.7 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, July 31st were given a dividend of $1.20 per share. The ex-dividend date was Friday, July 31st. This represents a $4.80 annualized dividend and a yield of 1.3%. Valero Energy’s dividend payout ratio (DPR) is currently 19.92%.

Insiders Place Their Bets

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

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.