Shell Asset Management Co. boosted its stake in shares of Valero Energy Corporation (NYSE:VLO) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 50,089 shares of the oil and gas company’s stock after buying an additional 2,222 shares during the period. Shell Asset Management Co.’s holdings in Valero Energy Corporation were worth $3,379,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Balasa Dinverno & Foltz LLC boosted its position in shares of Valero Energy Corporation by 8.1% in the second quarter. Balasa Dinverno & Foltz LLC now owns 15,271 shares of the oil and gas company’s stock valued at $1,030,000 after buying an additional 1,141 shares during the period. Montecito Bank & Trust boosted its position in shares of Valero Energy Corporation by 2.4% in the second quarter. Montecito Bank & Trust now owns 5,026 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 117 shares during the period. Lederer & Associates Investment Counsel CA purchased a new position in shares of Valero Energy Corporation during the second quarter valued at about $1,032,000. Meridian Wealth Management LLC boosted its position in shares of Valero Energy Corporation by 30.1% in the second quarter. Meridian Wealth Management LLC now owns 5,947 shares of the oil and gas company’s stock valued at $401,000 after buying an additional 1,376 shares during the period. Finally, 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 period. Institutional investors own 79.25% of the company’s stock.
Shares of Valero Energy Corporation (NYSE:VLO) opened at 66.93 on Thursday. The stock has a 50 day moving average price of $67.52 and a 200 day moving average price of $66.16. Valero Energy Corporation has a 12 month low of $51.17 and a 12 month high of $71.40. The firm has a market cap of $29.93 billion, a PE ratio of 16.54 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last released 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. The firm had revenue of $22.25 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Valero Energy Corporation had a return on equity of 8.58% and a net margin of 2.17%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, equities research analysts expect that Valero Energy Corporation will post $4.00 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Monday, August 7th. Valero Energy Corporation’s dividend payout ratio (DPR) is presently 69.14%.
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Several equities analysts have recently issued reports on the company. BidaskClub cut 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 Valero Energy Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Citigroup Inc. lowered their price target on 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 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 upgraded Valero Energy Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $80.00 in a research 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 given a buy rating to the company. The company presently 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 stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total transaction of $333,166.68. Following the completion of the transaction, the director now directly owns 9,866 shares in the company, valued at approximately $638,132.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.45% of the stock is currently owned by corporate insiders.
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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