Highland Capital Management LLC raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,644 shares of the oil and gas company’s stock after buying an additional 785 shares during the period. Highland Capital Management LLC’s holdings in Valero Energy Corporation were worth $5,373,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in VLO. Guardian Life Insurance Co. of America raised its stake in Valero Energy Corporation by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 11 shares during the last quarter. Welch & Forbes LLC raised its stake in Valero Energy Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 4,781 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 16 shares during the last quarter. BKD Wealth Advisors LLC raised its stake in Valero Energy Corporation by 0.4% in the second quarter. BKD Wealth Advisors LLC now owns 6,542 shares of the oil and gas company’s stock valued at $441,000 after buying an additional 24 shares during the last quarter. Brown Advisory Securities LLC raised its stake in Valero Energy Corporation by 0.7% in the first quarter. Brown Advisory Securities LLC now owns 3,815 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 25 shares during the last quarter. Finally, First Interstate Bank raised its stake in Valero Energy Corporation by 0.4% in the first quarter. First Interstate Bank now owns 8,587 shares of the oil and gas company’s stock valued at $569,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.
Valero Energy Corporation (NYSE VLO) traded up 0.04% during mid-day trading on Friday, reaching $68.53. 3,201,836 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $67.10 and a 200-day moving average price of $66.09. The stock has a market cap of $30.65 billion, a P/E ratio of 16.94 and a beta of 1.21. Valero Energy Corporation has a 52 week low of $51.17 and a 52 week high of $71.40.
Valero Energy Corporation (NYSE:VLO) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.15. The company had revenue of $22.25 billion during the quarter, compared to analyst estimates 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 for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 EPS. On average, analysts forecast that Valero Energy Corporation will post $4.00 earnings per share for the current 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 4.09%. Valero Energy Corporation’s payout ratio is currently 69.14%.
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VLO has been the subject of several recent research reports. Standpoint Research initiated coverage on shares of Valero Energy Corporation in a research report on Friday, June 30th. They set an “accumulate” rating and a $84.00 price target for the company. Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Jefferies Group LLC upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $80.00 in a research report on Thursday, June 22nd. Royal Bank Of Canada restated a “buy” rating on shares of Valero Energy Corporation in a research report on Wednesday, April 26th. Finally, ValuEngine upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Valero Energy Corporation has a consensus rating of “Buy” and an average price target of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $638,132.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.45% of the stock is currently owned by 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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