Investors Buy Shares of Valero Energy Corporation (VLO) on Weakness
Investors purchased shares of Valero Energy Corporation (NYSE:VLO) on weakness during trading on Friday. $97.29 million flowed into the stock on the tick-up and $56.51 million flowed out of the stock on the tick-down, for a money net flow of $40.78 million into the stock. Of all equities tracked, Valero Energy Corporation had the 21st highest net in-flow for the day. Valero Energy Corporation traded down ($0.04) for the day and closed at $77.23
A number of analysts have recently issued reports on VLO shares. Standpoint Research started coverage on shares of Valero Energy Corporation in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price objective for the company. Scotiabank set a $70.00 price objective on shares of Valero Energy Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Jefferies Group LLC raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $80.00 in a research note on Thursday, June 22nd. Citigroup Inc. reduced their price objective on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Finally, BidaskClub raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. Valero Energy Corporation currently has a consensus rating of “Buy” and an average target price of $74.61.
The firm’s 50-day moving average is $70.96 and its 200-day moving average is $67.16. The company has a market capitalization of $34.11 billion, a P/E ratio of 19.06 and a beta of 1.22.
Valero Energy Corporation (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.15. The company had revenue of $22.25 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. Equities analysts predict that Valero Energy Corporation will post $4.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Monday, August 7th. Valero Energy Corporation’s dividend payout ratio is presently 69.14%.
In other news, Director Stephen M. Waters sold 656 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $75.86, for a total transaction of $49,764.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael S. Ciskowski sold 53,012 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 67,413 shares of the company’s stock, valued at approximately $4,913,059.44. The disclosure for this sale can be found here. Insiders have sold 55,168 shares of company stock valued at $4,015,279 in the last ninety days. Insiders own 0.45% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VLO. Independent Portfolio Consultants Inc. grew its holdings in shares of Valero Energy Corporation by 62.2% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,614 shares of the oil and gas company’s stock worth $109,000 after buying an additional 619 shares in the last quarter. First Personal Financial Services grew its holdings in shares of Valero Energy Corporation by 13.6% during the second quarter. First Personal Financial Services now owns 1,636 shares of the oil and gas company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of Valero Energy Corporation by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock worth $116,000 after buying an additional 11 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Valero Energy Corporation during the first quarter worth $127,000. Finally, Ffcm LLC grew its holdings in shares of Valero Energy Corporation by 189.4% during the second quarter. Ffcm LLC now owns 1,881 shares of the oil and gas company’s stock worth $128,000 after buying an additional 1,231 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.
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About Valero Energy Corporation
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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