Valero Energy Corporation (NYSE:VLO): Reported Insider Selling Worth $3.07 Million In May 2014

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Dallas, Texas 05/22/2014 (FINANCIALSTRENDS) – Valero Energy Corporation (NYSE:VLO), an independent petroleum company, recently revealed that its Director Susan Kaufman Purcell sold 4,000 shares of the company’s common stock in its SEC filing on May 19, 2014. The director sold the stock in a transaction dated May 15, 2014 at an average price of $55.77, for a total transaction value of $223,061. Following the completion of this transaction, the director now owns 7,428 shares of the company’s common stock.

Other Transactions:

Earlier, the company also disclosed that its Director William R.Klesse sold 45,182shares of the company’s common stock in its SEC filing on May 9, 2014. The director sold the stock in a transaction dated May 8, 2014 at an average price of $56.80, for a total transaction value of $2.56 million. Following the completion of this transaction, the director now owns 1.12 million shares of the company’s common stock.

Valero Energy Corporation (NYSE:VLO) also disclosed that its Director Stephen M. Waters sold 5,000 shares of the company’s common stock in its SEC filing on May 6, 2014. The director sold the stock in a transaction dated May 2, 2014 at an average price of $57.98, for a total transaction value of $289,900. Following the completion of this transaction, the director now owns 22,062shares of the company’s common stock.

In aggregate, total insider selling during May 2014, as filed by the company with the SEC, amounts to unloading of 54,182 shares for a total transaction value of $3.07 million.

Analyst Updates:

Many equities research analysts have recently commented on the stock of Valero Energy Corporation (NYSE:VLO) during the current month. Investment analysts at Bank of America Merrill Lynch downgraded the stock from a “buy” rating to a “neutral” rating. They now maintain a price target of $63 for the stock. Investment analysts at Oppenheimer, however, upgraded the stock of the company from a “market perform” rating to an “outperform” rating with a price objective of $70 on the share.

Stock Update:

Yesterday, the stock closed at $54.23, losing 1.26% from its previous close.

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