Pinnacle Associates Ltd. cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,665 shares of the oil and gas company’s stock after selling 1,126 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Valero Energy were worth $9,605,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. PGGM Investments lifted its holdings in shares of Valero Energy by 9.7% during the second quarter. PGGM Investments now owns 584,266 shares of the oil and gas company’s stock worth $64,754,000 after buying an additional 51,866 shares during the last quarter. Sfmg LLC lifted its holdings in shares of Valero Energy by 23.8% during the second quarter. Sfmg LLC now owns 2,789 shares of the oil and gas company’s stock worth $309,000 after buying an additional 536 shares during the last quarter. Creative Planning lifted its holdings in shares of Valero Energy by 4.6% during the second quarter. Creative Planning now owns 68,976 shares of the oil and gas company’s stock worth $7,645,000 after buying an additional 3,037 shares during the last quarter. Regentatlantic Capital LLC lifted its holdings in shares of Valero Energy by 1.1% during the second quarter. Regentatlantic Capital LLC now owns 123,051 shares of the oil and gas company’s stock worth $13,638,000 after buying an additional 1,301 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Valero Energy by 12,113.4% during the second quarter. Cornerstone Wealth Management LLC now owns 327,198 shares of the oil and gas company’s stock worth $2,995,000 after buying an additional 324,519 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.
In other Valero Energy news, Director Stephen M. Waters sold 1,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was 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. Corporate insiders own 0.41% of the company’s stock.
A number of research analysts have recently commented on VLO shares. Morgan Stanley upped their price target on Valero Energy from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. ValuEngine lowered Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Mizuho assumed coverage on Valero Energy in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $125.00 target price for the company. JPMorgan Chase & Co. upped their target price on Valero Energy from $128.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, Barclays upped their target price on Valero Energy from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Thirteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Valero Energy has an average rating of “Hold” and a consensus price target of $113.33.
Shares of NYSE VLO opened at $111.00 on Monday. Valero Energy Co. has a one year low of $64.22 and a one year high of $126.98. The firm has a market capitalization of $49.31 billion, a P/E ratio of 22.38, a PEG ratio of 1.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.67 and a quick ratio of 1.10.
Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.17. Valero Energy had a return on equity of 12.06% and a net margin of 4.21%. 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 prior year, the business posted $1.23 earnings per share. The business’s revenue was up 39.4% compared to the same quarter last year. equities analysts anticipate that Valero Energy Co. will post 6.55 EPS for the current year.
The business 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 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Monday, August 6th. Valero Energy’s dividend payout ratio (DPR) is 64.52%.
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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