Mengis Capital Management Inc. Has $3.24 Million Stake in Valero Energy Corporation (VLO)
Mengis Capital Management Inc. lessened its stake in shares of Valero Energy Corporation (NYSE:VLO) by 19.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,170 shares of the oil and gas company’s stock after selling 10,349 shares during the quarter. Valero Energy Corporation makes up approximately 2.2% of Mengis Capital Management Inc.’s portfolio, making the stock its 12th biggest position. Mengis Capital Management Inc.’s holdings in Valero Energy Corporation were worth $3,244,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Cable Hill Partners LLC boosted its stake in shares of Valero Energy Corporation by 1,015.3% during the third quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,198 shares during the period. Independent Portfolio Consultants Inc. boosted its stake 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 valued at $109,000 after purchasing an additional 619 shares during the period. First Personal Financial Services boosted its stake 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 valued at $110,000 after purchasing an additional 196 shares during the period. Ffcm LLC boosted its stake 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 valued at $128,000 after purchasing an additional 1,231 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in shares of Valero Energy Corporation by 16.9% during the second quarter. Manchester Capital Management LLC now owns 2,076 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 300 shares during the period. 80.81% of the stock is owned by hedge funds and other institutional investors.
VLO has been the subject of a number of analyst reports. J P Morgan Chase & Co lowered Valero Energy Corporation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $78.00 in a research note on Friday, October 6th. Cowen and Company increased their price objective on Valero Energy Corporation from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Barclays PLC reaffirmed an “overweight” rating and issued a $86.00 price target (up previously from $85.00) on shares of Valero Energy Corporation in a research note on Tuesday, October 10th. UBS AG reaffirmed a “neutral” rating and issued a $80.00 price target (up previously from $69.00) on shares of Valero Energy Corporation in a research note on Wednesday, September 27th. Finally, Scotiabank set a $70.00 price target on Valero Energy Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $77.96.
In other news, Director Stephen M. Waters sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total transaction of $102,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael S. Ciskowski sold 53,012 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total value of $3,863,514.56. Following the transaction, the chief financial officer now owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The disclosure for this sale can be found here. Insiders have sold 56,768 shares of company stock valued at $4,141,471 over the last 90 days. Corporate insiders own 0.45% of the company’s stock.
Shares of Valero Energy Corporation (NYSE VLO) traded down $0.70 during trading hours on Tuesday, hitting $80.67. The stock had a trading volume of 2,568,500 shares, compared to its average volume of 4,090,916. Valero Energy Corporation has a 1 year low of $60.35 and a 1 year high of $82.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24. The company has a market capitalization of $35,605.96, a P/E ratio of 17.58, a PEG ratio of 1.69 and a beta of 1.17.
Valero Energy Corporation (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.08. Valero Energy Corporation had a return on equity of 9.87% and a net margin of 2.33%. The firm had revenue of $23.56 billion during the quarter, compared to the consensus estimate of $19.42 billion. During the same period last year, the company earned $1.24 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. analysts expect that Valero Energy Corporation will post 4.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, November 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. Valero Energy Corporation’s payout ratio is presently 60.48%.
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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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