Summit Global Investments bought a new stake in Valero Energy Corporation (NYSE:VLO) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 4,700 shares of the oil and gas company’s stock, valued at approximately $312,000.
A number of other institutional investors have also recently bought and sold shares of VLO. Trust Co raised its position in Valero Energy Corporation by 3.0% in the fourth quarter. Trust Co now owns 7,795 shares of the oil and gas company’s stock valued at $533,000 after buying an additional 224 shares during the last quarter. Acropolis Investment Management LLC raised its position in Valero Energy Corporation by 17.0% in the first quarter. Acropolis Investment Management LLC now owns 12,880 shares of the oil and gas company’s stock valued at $854,000 after buying an additional 1,875 shares during the last quarter. Fulton Bank N.A. raised its position in Valero Energy Corporation by 16.2% in the first quarter. Fulton Bank N.A. now owns 14,941 shares of the oil and gas company’s stock valued at $990,000 after buying an additional 2,082 shares during the last quarter. Manning & Napier Advisors LLC raised its position in Valero Energy Corporation by 9.7% in the first quarter. Manning & Napier Advisors LLC now owns 61,581 shares of the oil and gas company’s stock valued at $4,081,000 after buying an additional 5,461 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Valero Energy Corporation by 2.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 392,118 shares of the oil and gas company’s stock valued at $25,994,000 after buying an additional 10,581 shares during the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy Corporation (VLO) opened at 67.68 on Tuesday. The stock has a market cap of $30.27 billion, a P/E ratio of 14.80 and a beta of 1.22. Valero Energy Corporation has a 1-year low of $49.95 and a 1-year high of $71.40. The company’s 50-day moving average price is $66.32 and its 200-day moving average price is $66.02.
Valero Energy Corporation (NYSE:VLO) last issued its quarterly earnings results on Tuesday, April 25th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The firm had revenue of $21.77 billion during the quarter, compared to analyst estimates of $19.15 billion. Valero Energy Corporation had a return on equity of 8.31% and a net margin of 2.57%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Analysts predict that Valero Energy Corporation will post $4.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Monday, August 7th. Valero Energy Corporation’s payout ratio is currently 61.54%.
TRADEMARK VIOLATION NOTICE: “Summit Global Investments Buys New Stake in Valero Energy Corporation (VLO)” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://stocknewstimes.com/2017/07/25/summit-global-investments-buys-new-stake-in-valero-energy-corporation-vlo.html.
Several research firms recently issued reports on VLO. BidaskClub raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Citigroup Inc. reduced 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 issued an “accumulate” rating and a $84.00 price target on the stock. Scotiabank reaffirmed a “buy” rating and issued a $70.00 price target on shares of Valero Energy Corporation in a research report on Monday, March 27th. Finally, Royal Bank Of Canada increased their price target on Valero Energy Corporation from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Valero Energy Corporation presently has an average rating of “Buy” and a consensus price target of $71.59.
In other Valero Energy Corporation news, Director Susan Kaufman Purcell sold 5,151 shares of the stock in a transaction on Wednesday, June 21st. The stock was 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 of the company’s stock, valued at approximately $638,132.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.
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.
Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO).
Receive News & Ratings for Valero Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
