Bank of New York Mellon Corp Has $728.85 Million Position in Valero Energy Co. (VLO)
Bank of New York Mellon Corp cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 15.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,804,136 shares of the oil and gas company’s stock after selling 2,034,232 shares during the period. Bank of New York Mellon Corp owned about 2.40% of Valero Energy worth $728,848,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. raised its position in Valero Energy by 62.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,614 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 619 shares during the period. Guardian Life Insurance Co. of America raised its position in Valero Energy by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 11 shares during the period. Thompson Davis & CO. Inc. bought a new position in Valero Energy during the first quarter valued at about $127,000. Sandy Spring Bank raised its position in Valero Energy by 96.9% in the first quarter. Sandy Spring Bank now owns 2,712 shares of the oil and gas company’s stock valued at $179,000 after buying an additional 1,335 shares during the period. Finally, Financial Architects Inc raised its position in Valero Energy by 122.7% in the first quarter. Financial Architects Inc now owns 2,913 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 1,605 shares during the period. Institutional investors own 78.88% of the company’s stock.
Shares of Valero Energy Co. (VLO) opened at 65.71 on Thursday. Valero Energy Co. has a 12-month low of $51.17 and a 12-month high of $71.40. The firm has a market cap of $29.02 billion, a P/E ratio of 16.22 and a beta of 1.21. The company’s 50 day moving average price is $67.27 and its 200-day moving average price is $66.09.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.15. Valero Energy had a return on equity of 11.04% and a net margin of 2.57%. The firm had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Valero Energy’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Valero Energy Co. will post $4.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Monday, August 7th. Valero Energy’s payout ratio is currently 69.14%.
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Several equities analysts have issued reports on VLO shares. Standpoint Research started coverage on Valero Energy in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 target price on the stock. BidaskClub upgraded Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating on shares of Valero Energy in a research note on Wednesday, April 26th. Scotiabank set a $70.00 target price on Valero Energy and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, Jefferies Group LLC upgraded Valero Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $65.00 to $80.00 in a research note on Thursday, June 22nd. One investment 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. Valero Energy has an average rating of “Buy” and a consensus price target of $72.62.
In other Valero Energy news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total transaction of $333,166.68. Following the sale, the director now owns 9,866 shares in the company, valued at $638,132.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.45% of the company’s stock.
About Valero Energy
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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