Commerce Bank Cuts Position in Valero Energy Corporation $VLO

Commerce Bank lessened its position in Valero Energy Corporation (NYSE:VLO) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,942 shares of the oil and gas company’s stock after selling 1,866 shares during the quarter. Commerce Bank’s holdings in Valero Energy were worth $10,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whipplewood Advisors LLC boosted its position in Valero Energy by 3,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Valero Energy during the 3rd quarter worth approximately $27,000. Financial Life Planners acquired a new position in Valero Energy in the first quarter valued at $28,000. Valued Wealth Advisors LLC boosted its position 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 purchasing an additional 67 shares during the period. Finally, Torren Management LLC purchased a new position in shares of Valero Energy during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $349.27 on Monday. The company has a market cap of $100.57 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55. The stock has a 50 day simple moving average of $292.93 and a 200-day simple moving average of $254.21. Valero Energy Corporation has a 12-month low of $140.13 and a 12-month high of $352.70. 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 (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating 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 firm had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, equities analysts forecast that Valero Energy Corporation will post 40.62 EPS for the current year.

Valero Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.4%. Valero Energy’s dividend payout ratio (DPR) is 19.92%.

Analyst Ratings Changes

Several research firms recently commented on VLO. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. TD Cowen raised their price objective on shares of Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Raymond James Financial lifted their price objective on shares of Valero Energy from $300.00 to $340.00 and gave the company a “strong-buy” rating in a research note on Monday, July 13th. Citigroup upped their target price on shares of Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on Valero Energy from $292.00 to $356.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.00.

Insider Activity

In other news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.

Valero Energy Company 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.