Valero Energy Corporation (VLO) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc lowered its position in Valero Energy Corporation (NYSE:VLO) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,906 shares of the oil and gas company’s stock after selling 2,737 shares during the period. CIBC Asset Management Inc’s holdings in Valero Energy Corporation were worth $2,894,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Courier Capital LLC boosted its position in Valero Energy Corporation by 1.0% in the first quarter. Courier Capital LLC now owns 40,612 shares of the oil and gas company’s stock worth $2,692,000 after buying an additional 385 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Valero Energy Corporation by 12.6% in the first quarter. Nisa Investment Advisors LLC now owns 185,138 shares of the oil and gas company’s stock worth $12,274,000 after buying an additional 20,740 shares in the last quarter. NewSquare Capital LLC boosted its position in Valero Energy Corporation by 13.9% in the first quarter. NewSquare Capital LLC now owns 17,247 shares of the oil and gas company’s stock worth $1,143,000 after buying an additional 2,108 shares in the last quarter. Everence Capital Management Inc. boosted its position in Valero Energy Corporation by 25.9% in the first quarter. Everence Capital Management Inc. now owns 11,900 shares of the oil and gas company’s stock worth $789,000 after buying an additional 2,450 shares in the last quarter. Finally, Coastline Trust Co boosted its position in Valero Energy Corporation by 4.1% in the first quarter. Coastline Trust Co now owns 49,495 shares of the oil and gas company’s stock worth $3,281,000 after buying an additional 1,950 shares in the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.
Shares of Valero Energy Corporation (NYSE VLO) opened at 66.15 on Friday. Valero Energy Corporation has a 52-week low of $51.17 and a 52-week high of $71.40. The firm has a 50-day moving average price of $67.59 and a 200-day moving average price of $66.16. The firm has a market cap of $29.22 billion, a price-to-earnings ratio of 16.33 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The company had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. Analysts predict that Valero Energy Corporation will post $4.01 EPS for the current fiscal 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Monday, August 7th. Valero Energy Corporation’s payout ratio is 69.14%.
A number of research firms have recently weighed in on VLO. BidaskClub cut Valero Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Scotiabank set a $70.00 target price on Valero Energy Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Citigroup Inc. lowered their target price on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 17th. Standpoint Research started coverage on Valero Energy Corporation in a report on Friday, June 30th. They set an “accumulate” rating and a $84.00 target price for the company. Finally, Royal Bank Of Canada raised their target price on Valero Energy Corporation from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total value of $333,166.68. Following the completion of the sale, the director now owns 9,866 shares of the company’s stock, valued at $638,132.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.45% of the stock is 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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