OLD Republic International Corp Takes Position in Valero Energy Corporation (VLO)

OLD Republic International Corp bought a new stake in shares of Valero Energy Corporation (NYSE:VLO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 172,500 shares of the oil and gas company’s stock, valued at approximately $11,435,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Valero Energy Corporation by 2,578.1% in the first quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock valued at $2,533,433,000 after buying an additional 36,790,343 shares during the last quarter. Vanguard Group Inc. increased its stake in Valero Energy Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 33,405,279 shares of the oil and gas company’s stock valued at $2,214,436,000 after buying an additional 827,661 shares during the last quarter. LSV Asset Management increased its stake in Valero Energy Corporation by 6.3% in the first quarter. LSV Asset Management now owns 8,710,850 shares of the oil and gas company’s stock valued at $577,442,000 after buying an additional 514,850 shares during the last quarter. American International Group Inc. increased its stake in Valero Energy Corporation by 1.4% in the first quarter. American International Group Inc. now owns 7,539,695 shares of the oil and gas company’s stock valued at $499,806,000 after buying an additional 102,794 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Valero Energy Corporation by 4.5% in the first quarter. APG Asset Management N.V. now owns 5,006,415 shares of the oil and gas company’s stock valued at $331,875,000 after buying an additional 216,881 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Valero Energy Corporation (VLO) traded up 0.04% during midday trading on Friday, hitting $68.53. The company had a trading volume of 3,201,836 shares. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of 16.94 and a beta of 1.21. Valero Energy Corporation has a 12-month low of $51.17 and a 12-month high of $71.40. The company’s 50 day moving average is $67.10 and its 200 day moving average is $66.09.

Valero Energy Corporation (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, beating 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 8.58%. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Valero Energy Corporation will post $4.00 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.09%. Valero Energy Corporation’s dividend payout ratio is presently 69.14%.

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VLO has been the topic of several recent research reports. US Capital Advisors restated an “overweight” rating on shares of Valero Energy Corporation in a research report on Monday, May 22nd. Jefferies Group LLC set a $65.00 price target on Valero Energy Corporation and gave the company a “hold” rating in a research report on Wednesday, April 19th. Piper Jaffray Companies restated a “neutral” rating on shares of Valero Energy Corporation in a research report on Thursday, May 25th. Credit Suisse Group restated a “hold” rating and issued a $65.00 price target on shares of Valero Energy Corporation in a research report on Wednesday, June 21st. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $71.59.

In related news, Director Susan Kaufman Purcell sold 5,151 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total transaction of $333,166.68. Following the transaction, the director now owns 9,866 shares in the company, valued at $638,132.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by company insiders.

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.