Farmers Trust Co. cut its stake in shares of Valero Energy Corporation (NYSE:VLO) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,176 shares of the oil and gas company’s stock after selling 201 shares during the period. Farmers Trust Co.’s holdings in Valero Energy Corporation were worth $214,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in VLO. BlackRock Inc. increased its stake in Valero Energy Corporation by 2,578.1% in the first quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock valued at $2,533,433,000 after buying an additional 36,790,343 shares during the period. Vanguard Group Inc. increased its stake in Valero Energy Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 33,405,279 shares of the oil and gas company’s stock valued at $2,214,436,000 after buying an additional 827,661 shares during the period. LSV Asset Management increased its stake in Valero Energy Corporation by 6.3% in the first quarter. LSV Asset Management now owns 8,710,850 shares of the oil and gas company’s stock valued at $577,442,000 after buying an additional 514,850 shares during the period. American International Group Inc. increased its stake in Valero Energy Corporation by 1.4% in the first quarter. American International Group Inc. now owns 7,539,695 shares of the oil and gas company’s stock valued at $499,806,000 after buying an additional 102,794 shares during the period. Finally, APG Asset Management N.V. increased its stake in Valero Energy Corporation by 4.5% in the first quarter. APG Asset Management N.V. now owns 5,006,415 shares of the oil and gas company’s stock valued at $331,875,000 after buying an additional 216,881 shares during the period. Institutional investors and hedge funds own 78.88% of the company’s stock.
Valero Energy Corporation (NYSE:VLO) opened at 64.75 on Friday. Valero Energy Corporation has a one year low of $51.17 and a one year high of $71.40. The firm has a market cap of $28.60 billion, a PE ratio of 15.98 and a beta of 1.21. The firm has a 50-day moving average price of $67.47 and a 200-day moving average price of $66.09.
Valero Energy Corporation (NYSE:VLO) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The business had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts expect that Valero Energy Corporation will post $4.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 4.32%. Valero Energy Corporation’s payout ratio is 69.14%.
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Several brokerages have weighed in on VLO. US Capital Advisors reaffirmed an “overweight” rating on shares of Valero Energy Corporation in a report on Monday, May 22nd. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Valero Energy Corporation in a report on Thursday, May 25th. Credit Suisse Group reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Valero Energy Corporation in a report on Wednesday, June 21st. Scotiabank set a $70.00 price objective on Valero Energy Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $70.00 price objective (up from $69.50) on shares of Valero Energy Corporation in a report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of Valero Energy Corporation stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total value of $333,166.68. Following the transaction, the director now owns 9,866 shares in the company, valued at $638,132.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.
Valero Energy Corporation Company Profile
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
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