Pitcairn Co. Lowers Stake in Valero Energy Corp. (VLO)
Pitcairn Co. decreased its stake in shares of Valero Energy Corp. (NYSE:VLO) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,915 shares of the company’s stock after selling 1,830 shares during the period. Pitcairn Co.’s holdings in Valero Energy Corp. were worth $2,189,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Security National Trust Co. increased its stake in shares of Valero Energy Corp. by 4.8% in the second quarter. Security National Trust Co. now owns 2,347 shares of the company’s stock valued at $119,000 after buying an additional 107 shares during the period. First American Bank purchased a new stake in shares of Valero Energy Corp. during the second quarter valued at approximately $205,000. Sand Hill Global Advisors LLC purchased a new stake in shares of Valero Energy Corp. during the first quarter valued at approximately $211,000. Financial Architects Inc increased its stake in shares of Valero Energy Corp. by 163.4% in the second quarter. Financial Architects Inc now owns 4,231 shares of the company’s stock valued at $216,000 after buying an additional 2,625 shares during the period. Finally, M&R Capital Management Inc. purchased a new stake in shares of Valero Energy Corp. during the first quarter valued at approximately $249,000. 78.55% of the stock is currently owned by institutional investors.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 0.72% during mid-day trading on Monday, hitting $57.14. The company’s stock had a trading volume of 5,976,463 shares. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88. The stock has a 50-day moving average of $54.79 and a 200-day moving average of $56.32. The company has a market cap of $26.36 billion, a PE ratio of 9.18 and a beta of 1.97.
Valero Energy Corp. (NYSE:VLO) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Valero Energy Corp. had a return on equity of 14.05% and a net margin of 3.89%. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $16.79 billion. During the same period in the prior year, the business earned $2.66 earnings per share. The business’s revenue was down 22.0% on a year-over-year basis. On average, equities research analysts forecast that Valero Energy Corp. will post $3.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 11th were given a $0.60 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 4.20%. Valero Energy Corp.’s dividend payout ratio is currently 38.77%.
Several brokerages recently commented on VLO. Vetr downgraded shares of Valero Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $57.85 price objective on the stock. in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of Valero Energy Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. reissued a “top pick” rating on shares of Valero Energy Corp. in a research report on Thursday, June 30th. Wells Fargo & Co. reissued a “buy” rating on shares of Valero Energy Corp. in a research report on Saturday, July 9th. Finally, Wolfe Research downgraded shares of Valero Energy Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, June 20th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Valero Energy Corp. presently has an average rating of “Buy” and an average target price of $69.76.
About Valero Energy Corp.
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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