Valero Energy Corp. (VLO) Shares Bought by Conning Inc.
Conning Inc. raised its position in shares of Valero Energy Corp. (NYSE:VLO) by 21.5% during the second quarter, Holdings Channel reports. The institutional investor owned 413,905 shares of the company’s stock after buying an additional 73,109 shares during the period. Conning Inc.’s holdings in Valero Energy Corp. were worth $21,109,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Security National Trust Co. raised its position 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 last quarter. First American Bank purchased a new position in shares of Valero Energy Corp. during the second quarter valued at about $205,000. Sand Hill Global Advisors LLC purchased a new position in shares of Valero Energy Corp. during the first quarter valued at about $211,000. Financial Architects Inc raised its position 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 last quarter. Finally, M&R Capital Management Inc. purchased a new position in shares of Valero Energy Corp. during the first quarter valued at about $249,000. Institutional investors own 78.48% of the company’s stock.
Valero Energy Corp. (NYSE:VLO) traded up 0.41% during mid-day trading on Wednesday, reaching $55.68. 6,033,433 shares of the company’s stock traded hands. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 8.95 and a beta of 1.97. The company has a 50-day moving average of $54.90 and a 200-day moving average of $56.26. Valero Energy Corp. has a 52-week low of $46.88 and a 52-week high of $73.88.
Valero Energy Corp. (NYSE:VLO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.04. Valero Energy Corp. had a net margin of 3.89% and a return on equity of 14.05%. The firm earned $19.58 billion during the quarter, compared to the consensus estimate of $16.79 billion. During the same period last year, the firm posted $2.66 EPS. The firm’s quarterly revenue was down 22.0% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Thursday, August 11th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, August 9th. Valero Energy Corp.’s payout ratio is presently 38.77%.
VLO has been the topic of several research reports. Vetr raised Valero Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $63.15 price objective on the stock in a report on Wednesday, August 31st. Jefferies Group assumed coverage on Valero Energy Corp. in a report on Tuesday, August 23rd. They set a “buy” rating and a $66.00 price target on the stock. Piper Jaffray Cos. raised their price target on Valero Energy Corp. from $48.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Goldman Sachs Group Inc. reissued a “top pick” rating on shares of Valero Energy Corp. in a report on Thursday, June 30th. Finally, Zacks Investment Research lowered Valero Energy Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, May 30th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $69.76.
Valero Energy Corp. Company Profile
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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