L & S Advisors Inc raised its stake in Valero Energy Co. (NYSE:VLO) by 197.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,397 shares of the oil and gas company’s stock after acquiring an additional 27,477 shares during the quarter. L & S Advisors Inc’s holdings in Valero Energy were worth $3,544,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Valero Energy by 2.7% during the 2nd quarter. BlackRock Inc. now owns 34,645,065 shares of the oil and gas company’s stock worth $2,965,964,000 after acquiring an additional 896,211 shares during the last quarter. FMR LLC lifted its stake in Valero Energy by 1.2% in the first quarter. FMR LLC now owns 11,136,474 shares of the oil and gas company’s stock valued at $944,707,000 after buying an additional 127,138 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Valero Energy by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 9,172,100 shares of the oil and gas company’s stock valued at $785,223,000 after buying an additional 515,534 shares in the last quarter. LSV Asset Management lifted its stake in Valero Energy by 3.3% in the first quarter. LSV Asset Management now owns 7,361,348 shares of the oil and gas company’s stock valued at $624,463,000 after buying an additional 233,009 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Valero Energy by 2.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,018,386 shares of the oil and gas company’s stock valued at $515,234,000 after buying an additional 121,909 shares in the last quarter. Hedge funds and other institutional investors own 76.39% of the company’s stock.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Valero Energy from $96.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday. ValuEngine downgraded shares of Valero Energy from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Wells Fargo & Co set a $107.00 price objective on shares of Valero Energy and gave the company a “buy” rating in a report on Friday, July 26th. Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $96.00 to $92.00 in a report on Thursday, June 6th. Finally, Royal Bank of Canada set a $98.00 price objective on shares of Valero Energy and gave the company a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Valero Energy presently has a consensus rating of “Buy” and a consensus price target of $103.47.
Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.14. The business had revenue of $28.93 billion for the quarter, compared to the consensus estimate of $25.45 billion. Valero Energy had a net margin of 2.27% and a return on equity of 11.31%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.15 earnings per share. Equities research analysts predict that Valero Energy Co. will post 4.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 6th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.60 annualized dividend and a dividend yield of 4.29%. Valero Energy’s dividend payout ratio is currently 48.85%.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. 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.
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