Hanson & Doremus Investment Management lessened its holdings in Valero Energy Co. (NYSE:VLO) by 8.4% in the second quarter, HoldingsChannel.com reports. The firm owned 28,369 shares of the oil and gas company’s stock after selling 2,596 shares during the period. Valero Energy accounts for approximately 1.0% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 18th biggest holding. Hanson & Doremus Investment Management’s holdings in Valero Energy were worth $3,144,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Kaizen Advisory LLC lifted its stake in Valero Energy by 156.8% in the second quarter. Kaizen Advisory LLC now owns 1,063 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 649 shares during the last quarter. Kiley Juergens Wealth Management LLC bought a new stake in Valero Energy in the second quarter valued at $117,000. KHP Capital LLC bought a new stake in Valero Energy in the first quarter valued at $104,000. Stelac Advisory Services LLC bought a new stake in Valero Energy in the second quarter valued at $125,000. Finally, Trust Co. of Vermont lifted its stake in Valero Energy by 70.4% in the second quarter. Trust Co. of Vermont now owns 1,452 shares of the oil and gas company’s stock valued at $160,000 after buying an additional 600 shares during the last quarter. 77.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Valero Energy stock opened at $111.00 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39. Valero Energy Co. has a 52 week low of $64.22 and a 52 week high of $126.98. The stock has a market capitalization of $49.31 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.98 by $0.17. Valero Energy had a net margin of 4.21% and a return on equity of 12.06%. The firm had revenue of $31.02 billion for the quarter, compared to analysts’ expectations of $26.56 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Valero Energy’s revenue for the quarter was up 39.4% compared to the same quarter last year. analysts predict that Valero Energy Co. will post 6.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 7th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.88%. The ex-dividend date is Monday, August 6th. Valero Energy’s dividend payout ratio (DPR) is presently 64.52%.
In other Valero Energy news, Director Stephen M. Waters sold 1,000 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $116.76, for a total value of $116,760.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.
A number of research firms have issued reports on VLO. Wells Fargo & Co raised their target price on Valero Energy from $122.00 to $146.00 and gave the company a “positive” rating in a research note on Tuesday, May 29th. Argus lifted their price objective on shares of Valero Energy to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 10th. Cowen lifted their price objective on shares of Valero Energy from $100.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, April 26th. Credit Suisse Group lifted their price objective on shares of Valero Energy from $102.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Finally, Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $113.33.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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