Tower Research Capital LLC TRC Cuts Stake in Valero Energy Co. (VLO)
Tower Research Capital LLC TRC decreased its position in shares of Valero Energy Co. (NYSE:VLO) by 39.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,494 shares of the oil and gas company’s stock after selling 4,845 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Valero Energy were worth $853,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of VLO. Truvestments Capital LLC bought a new position in shares of Valero Energy during the 3rd quarter worth $101,000. Reilly Financial Advisors LLC grew its stake in shares of Valero Energy by 1,164.4% during the 3rd quarter. Reilly Financial Advisors LLC now owns 1,315 shares of the oil and gas company’s stock worth $150,000 after acquiring an additional 1,211 shares during the period. Gradient Investments LLC grew its stake in shares of Valero Energy by 68.1% during the 3rd quarter. Gradient Investments LLC now owns 1,353 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 548 shares during the period. Icon Wealth Partners LLC bought a new position in shares of Valero Energy during the 2nd quarter worth $161,000. Finally, Mainstay Capital Management LLC ADV bought a new position in shares of Valero Energy during the 2nd quarter worth $166,000. Institutional investors own 78.74% of the company’s stock.
Several research firms have recently weighed in on VLO. ValuEngine downgraded Valero Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Citigroup raised their target price on Valero Energy from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Tudor Pickering downgraded Valero Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Morgan Stanley set a $145.00 target price on Valero Energy and gave the stock a “buy” rating in a research note on Friday, October 12th. Finally, Standpoint Research upgraded Valero Energy from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.80.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Valero Energy had a return on equity of 11.90% and a net margin of 3.96%. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $31.82 billion. On average, equities analysts forecast that Valero Energy Co. will post 6.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Tuesday, November 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.20 annualized dividend and a dividend yield of 4.02%. Valero Energy’s payout ratio is currently 64.52%.
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Valero Energy Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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