Investec Asset Management LTD lowered its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,347,917 shares of the oil and gas company’s stock after selling 78,151 shares during the quarter. Valero Energy comprises 1.3% of Investec Asset Management LTD’s portfolio, making the stock its 20th largest position. Investec Asset Management LTD’s holdings in Valero Energy were worth $260,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in VLO. Global X Management Co. LLC raised its position in shares of Valero Energy by 7.3% in the 1st quarter. Global X Management Co. LLC now owns 9,304 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 633 shares in the last quarter. West Branch Capital LLC acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $1,486,000. NuWave Investment Management LLC acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $225,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $297,000. Finally, Alps Advisors Inc. acquired a new position in shares of Valero Energy in the 1st quarter valued at approximately $690,000. Institutional investors own 78.40% of the company’s stock.
Several equities research analysts recently issued reports on the company. Wells Fargo & Co upped their price target on Valero Energy from $122.00 to $146.00 and gave the company a “positive” rating in a research report on Tuesday, May 29th. Argus upped their price target on Valero Energy to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 10th. Edward Jones raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 10th. Tudor Pickering raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 18th. Finally, Credit Suisse Group upped their price target on Valero Energy from $118.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, June 4th. Thirteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $115.41.
Shares of VLO opened at $120.61 on Thursday. The firm has a market cap of $51.80 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 1.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.39. Valero Energy Co. has a 12 month low of $67.24 and a 12 month high of $126.98.
Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.17. The firm had revenue of $31.02 billion during the quarter, compared to the consensus estimate of $26.56 billion. Valero Energy had a return on equity of 12.06% and a net margin of 4.21%. The firm’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS. equities analysts forecast that Valero Energy Co. will post 6.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Tuesday, August 7th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, August 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.65%. Valero Energy’s payout ratio is currently 64.52%.
In related 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 transaction of $116,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by corporate insiders.
Valero Energy Profile
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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