People s United Financial Inc. cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 12.6% during the second quarter, HoldingsChannel.com reports. The firm owned 28,602 shares of the oil and gas company’s stock after selling 4,138 shares during the period. People s United Financial Inc.’s holdings in Valero Energy were worth $3,170,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. PGGM Investments grew its stake in Valero Energy by 9.7% in the 2nd quarter. PGGM Investments now owns 584,266 shares of the oil and gas company’s stock valued at $64,754,000 after acquiring an additional 51,866 shares during the last quarter. Sfmg LLC grew its stake in Valero Energy by 23.8% in the 2nd quarter. Sfmg LLC now owns 2,789 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 536 shares during the last quarter. Creative Planning grew its stake in Valero Energy by 4.6% in the 2nd quarter. Creative Planning now owns 68,976 shares of the oil and gas company’s stock valued at $7,645,000 after acquiring an additional 3,037 shares during the last quarter. Regentatlantic Capital LLC grew its stake in Valero Energy by 1.1% in the 2nd quarter. Regentatlantic Capital LLC now owns 123,051 shares of the oil and gas company’s stock valued at $13,638,000 after acquiring an additional 1,301 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Valero Energy by 12,113.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 327,198 shares of the oil and gas company’s stock valued at $2,995,000 after acquiring an additional 324,519 shares during the last quarter. 77.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on VLO shares. Piper Jaffray Companies reissued a “hold” rating and issued a $113.00 price objective on shares of Valero Energy in a research note on Tuesday, April 24th. Cowen increased 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. Barclays increased their price objective on shares of Valero Energy from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Credit Suisse Group increased 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, Argus increased 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. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $113.33.
In other news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $116.76, for a total transaction of $116,760.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Valero Energy stock opened at $111.00 on Monday. Valero Energy Co. has a 12-month low of $64.22 and a 12-month high of $126.98. The stock has a market cap of $49.31 billion, a price-to-earnings 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 quick ratio of 1.10 and a current ratio of 1.67.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.17. The company had revenue of $31.02 billion for the quarter, compared to analysts’ expectations of $26.56 billion. Valero Energy had a net margin of 4.21% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. equities research analysts expect that Valero Energy Co. will post 6.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 7th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, August 6th. This represents a $3.20 annualized dividend and a dividend yield of 2.88%. Valero Energy’s payout ratio is currently 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.
Featured Story: What is the NASDAQ Stock Market?
Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLO).
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.