Private Management Group Inc. Sells 101,199 Shares of Valero Energy Corporation $VLO

Private Management Group Inc. reduced its position in Valero Energy Corporation (NYSE:VLO) by 47.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,997 shares of the oil and gas company’s stock after selling 101,199 shares during the period. Valero Energy makes up about 1.1% of Private Management Group Inc.’s holdings, making the stock its 15th biggest holding. Private Management Group Inc.’s holdings in Valero Energy were worth $42,636,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of 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 purchasing an additional 516,975 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Valero Energy by 9.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock valued at $733,660,000 after buying an additional 254,604 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Valero Energy by 18.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after buying an additional 442,177 shares in the last quarter. Amundi grew its position in shares of Valero Energy by 45.3% during the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock worth $638,695,000 after buying an additional 806,018 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Valero Energy by 33.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after buying an additional 520,642 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on VLO shares. Raymond James Financial upped their price target on shares of Valero Energy from $450.00 to $530.00 in a report on Monday, October 19th. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Bank of America lifted their price target on Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Morgan Stanley boosted their price objective on Valero Energy from $411.00 to $420.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Finally, Jefferies Financial Group cut their price objective on Valero Energy from $401.00 to $394.00 and set a “hold” rating on the stock in a research note on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $406.32.

Valero Energy Stock Performance

Valero Energy stock opened at $356.64 on Tuesday. The company has a market cap of $102.69 billion, a PE ratio of 8.02, a P/E/G ratio of 0.19 and a beta of 0.58. The company has a fifty day moving average price of $399.69 and a two-hundred day moving average price of $290.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.72 and a quick ratio of 1.33. Valero Energy Corporation has a 12 month low of $159.90 and a 12 month high of $461.52.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, beating the consensus estimate of $21.17 by $2.73. The firm had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The firm’s revenue for the quarter was up 43.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.66 earnings per share. Research analysts expect that Valero Energy Corporation will post 57.83 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Tuesday, November 24th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. Valero Energy’s payout ratio is 10.80%.

Valero Energy Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks.

The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.

Valero also produces renewable fuels, including ethanol and renewable diesel.