Valero Energy Corporation (NYSE:VLO) Shares Bought by Meridian Wealth Management LLC
Meridian Wealth Management LLC increased its stake in Valero Energy Corporation (NYSE:VLO) by 30.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,947 shares of the oil and gas company’s stock after buying an additional 1,376 shares during the period. Meridian Wealth Management LLC’s holdings in Valero Energy Corporation were worth $401,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Kwmg LLC boosted its position in shares of Valero Energy Corporation by 7.8% in the second quarter. Kwmg LLC now owns 25,059 shares of the oil and gas company’s stock valued at $1,690,000 after buying an additional 1,810 shares during the last quarter. Aviance Capital Partners LLC bought a new position in shares of Valero Energy Corporation during the second quarter valued at approximately $481,000. Personal Capital Advisors Corp boosted its position in shares of Valero Energy Corporation by 5.1% in the second quarter. Personal Capital Advisors Corp now owns 459,435 shares of the oil and gas company’s stock valued at $30,993,000 after buying an additional 22,195 shares during the last quarter. LGT Capital Partners LTD. boosted its position in shares of Valero Energy Corporation by 13.7% in the second quarter. LGT Capital Partners LTD. now owns 217,893 shares of the oil and gas company’s stock valued at $14,699,000 after buying an additional 26,279 shares during the last quarter. Finally, Wellington Shields & Co. LLC bought a new position in shares of Valero Energy Corporation during the second quarter valued at approximately $206,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.
Valero Energy Corporation (VLO) traded down 1.28% during midday trading on Thursday, hitting $66.07. The stock had a trading volume of 1,279,780 shares. Valero Energy Corporation has a 52 week low of $51.17 and a 52 week high of $71.40. The stock’s 50 day moving average price is $67.50 and its 200-day moving average price is $66.16. The company has a market cap of $29.18 billion, a PE ratio of 16.31 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The company had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period in the prior year, the business earned $1.07 earnings per share. Valero Energy Corporation’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts predict that Valero Energy Corporation will post $4.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.18%. Valero Energy Corporation’s payout ratio is 69.14%.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of Valero Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Citigroup Inc. reduced their price target on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Standpoint Research assumed coverage on shares of Valero Energy Corporation in a research report on Friday, June 30th. They set an “accumulate” rating and a $84.00 price target on the stock. Finally, Jefferies Group LLC raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $80.00 in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total transaction of $333,166.68. Following the transaction, the director now directly owns 9,866 shares in the company, valued at $638,132.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.45% of the stock is currently owned by corporate insiders.
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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