Janney Montgomery Scott LLC Has $4.79 Million Position in Valero Energy Co. (VLO)
Janney Montgomery Scott LLC reduced its position in shares of Valero Energy Co. (NYSE:VLO) by 23.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,244 shares of the oil and gas company’s stock after selling 19,023 shares during the period. Janney Montgomery Scott LLC’s holdings in Valero Energy were worth $4,788,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in VLO. Putnam FL Investment Management Co. bought a new position in shares of Valero Energy in the third quarter worth about $1,910,000. Aberdeen Asset Management PLC UK raised its stake in shares of Valero Energy by 19.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,082,989 shares of the oil and gas company’s stock worth $73,059,000 after acquiring an additional 172,788 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Valero Energy by 4.4% in the second quarter. Brookstone Capital Management now owns 86,688 shares of the oil and gas company’s stock worth $5,848,000 after acquiring an additional 3,644 shares during the last quarter. Andra AP fonden raised its stake in shares of Valero Energy by 2.9% in the second quarter. Andra AP fonden now owns 71,300 shares of the oil and gas company’s stock worth $4,810,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Valero Energy by 2.7% in the second quarter. Swiss National Bank now owns 1,646,948 shares of the oil and gas company’s stock worth $111,103,000 after acquiring an additional 42,700 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on VLO. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $78.00 target price on shares of Valero Energy in a research note on Friday, November 17th. Standpoint Research downgraded shares of Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Thursday, November 16th. UBS boosted their target price on shares of Valero Energy from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Barclays boosted their target price on shares of Valero Energy from $86.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Finally, Scotiabank reiterated a “buy” rating and set a $84.00 price target on shares of Valero Energy in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $79.28.
Shares of Valero Energy Co. (NYSE:VLO) traded up $0.51 during trading hours on Thursday, hitting $87.45. 3,111,900 shares of the stock traded hands, compared to its average volume of 4,019,998. Valero Energy Co. has a 12 month low of $60.69 and a 12 month high of $88.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.24 and a current ratio of 1.91. The firm has a market cap of $38,043.29, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20.
Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.08. The firm had revenue of $23.56 billion during the quarter, compared to analysts’ expectations of $19.42 billion. Valero Energy had a net margin of 2.33% and a return on equity of 9.87%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. sell-side analysts anticipate that Valero Energy Co. will post 4.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Monday, November 20th. Valero Energy’s dividend payout ratio is currently 60.48%.
In related news, Director Philip J. Pfeiffer sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $81.42, for a total transaction of $122,130.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael S. Ciskowski sold 53,012 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the transaction, the chief financial officer now 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. In the last 90 days, insiders have sold 56,768 shares of company stock valued at $4,161,601. Corporate insiders own 0.45% of the company’s stock.
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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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