Zurich Insurance Group Ltd FI Cuts Holdings in Valero Energy Corporation (VLO)
Zurich Insurance Group Ltd FI lowered its stake in Valero Energy Corporation (NYSE:VLO) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,211 shares of the oil and gas company’s stock after selling 2,138 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Valero Energy Corporation were worth $3,927,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in VLO. Independent Portfolio Consultants Inc. increased its position 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 worth $109,000 after acquiring an additional 619 shares in the last quarter. First Personal Financial Services raised its holdings 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 worth $110,000 after acquiring an additional 196 shares during the period. Guardian Life Insurance Co. of America raised its holdings in shares of Valero Energy Corporation by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 11 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in shares of Valero Energy Corporation during the first quarter worth $127,000. Finally, Ffcm LLC raised its holdings 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 worth $128,000 after acquiring an additional 1,231 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Valero Energy Corporation (VLO) traded down 0.09% during trading on Tuesday, reaching $76.98. The company’s stock had a trading volume of 636,338 shares. The firm has a market cap of $34.00 billion, a PE ratio of 19.00 and a beta of 1.21. The stock’s 50 day moving average price is $70.03 and its 200-day moving average price is $66.95. Valero Energy Corporation has a 12 month low of $52.64 and a 12 month high of $77.77.
Valero Energy Corporation (NYSE:VLO) last issued its quarterly earnings data 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 business had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts predict that Valero Energy Corporation will post $4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th were given a dividend of $0.70 per share. The ex-dividend date was Monday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. Valero Energy Corporation’s dividend payout ratio is currently 69.14%.
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A number of equities analysts have issued reports on the company. Credit Suisse Group reiterated a “hold” rating and set a $65.00 target price on shares of Valero Energy Corporation in a report on Wednesday, June 21st. Standpoint Research started coverage on Valero Energy Corporation in a report on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price target on the stock. Scotiabank set a $70.00 price target on Valero Energy Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Cowen and Company upped their price objective on Valero Energy Corporation from $70.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Finally, BidaskClub cut Valero Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Valero Energy Corporation presently has a consensus rating of “Buy” and an average price target of $74.49.
In other news, Director Stephen M. Waters sold 656 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $75.86, for a total value of $49,764.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael S. Ciskowski sold 53,012 shares of the company’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 value of $3,863,514.56. Following the completion of the transaction, the chief financial officer now directly owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,168 shares of company stock worth $4,015,279. Insiders own 0.45% of the company’s stock.
Valero Energy Corporation 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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