Advisor Group Inc. Boosts Stake in Valero Energy Corporation (VLO)
Advisor Group Inc. grew its position in shares of Valero Energy Corporation (NYSE:VLO) by 5.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 89,250 shares of the oil and gas company’s stock after acquiring an additional 4,928 shares during the quarter. Advisor Group Inc.’s holdings in Valero Energy Corporation were worth $5,975,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenview Trust Co boosted its position in shares of Valero Energy Corporation by 7.0% during the 2nd quarter. Glenview Trust Co now owns 176,073 shares of the oil and gas company’s stock valued at $11,878,000 after acquiring an additional 11,560 shares during the last quarter. Cibc World Markets Corp raised its holdings in Valero Energy Corporation by 20.4% during the 2nd quarter. Cibc World Markets Corp now owns 63,194 shares of the oil and gas company’s stock valued at $4,263,000 after buying an additional 10,693 shares during the period. Suntrust Banks Inc. raised its holdings in Valero Energy Corporation by 3.6% during the 2nd quarter. Suntrust Banks Inc. now owns 120,372 shares of the oil and gas company’s stock valued at $8,118,000 after buying an additional 4,171 shares during the period. Willis Investment Counsel raised its holdings in Valero Energy Corporation by 42.2% during the 2nd quarter. Willis Investment Counsel now owns 165,800 shares of the oil and gas company’s stock valued at $11,185,000 after buying an additional 49,200 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Valero Energy Corporation by 0.4% during the 2nd quarter. California Public Employees Retirement System now owns 1,372,283 shares of the oil and gas company’s stock valued at $92,574,000 after buying an additional 5,500 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.
VLO has been the topic of a number of recent analyst reports. Standpoint Research initiated coverage on Valero Energy Corporation in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 target price on the stock. Scotiabank set a $70.00 price target on Valero Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC raised Valero Energy Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $80.00 in a research report on Thursday, June 22nd. Citigroup Inc. dropped their price objective on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Finally, BidaskClub raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.09.
Shares of Valero Energy Corporation (VLO) traded up 1.27% on Friday, hitting $74.29. The stock had a trading volume of 3,263,922 shares. The firm’s 50-day moving average price is $68.09 and its 200 day moving average price is $66.42. Valero Energy Corporation has a 52-week low of $51.17 and a 52-week high of $74.36. The firm has a market cap of $32.81 billion, a PE ratio of 18.34 and a beta of 1.19.
Valero Energy Corporation (NYSE:VLO) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The firm had revenue of $22.25 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. On average, equities research analysts predict that Valero Energy Corporation will post $4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Wednesday, August 9th were given a $0.70 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.77%. Valero Energy Corporation’s dividend payout ratio (DPR) is presently 69.14%.
In other Valero Energy Corporation news, CFO Michael S. Ciskowski sold 53,012 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now directly owns 67,413 shares of the company’s stock, valued at approximately $4,913,059.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen M. Waters sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total value of $102,000.00. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate 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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