Nordea Investment Management AB reduced its stake in shares of Valero Energy Corporation (NYSE:VLO) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,318,209 shares of the oil and gas company’s stock after selling 204,183 shares during the period. Nordea Investment Management AB owned 0.52% of Valero Energy Corporation worth $156,386,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Glenview Trust Co lifted its holdings in shares of Valero Energy Corporation by 7.0% during the 2nd quarter. Glenview Trust Co now owns 176,073 shares of the oil and gas company’s stock worth $11,878,000 after acquiring an additional 11,560 shares during the period. Cibc World Markets Corp raised its holdings in Valero Energy Corporation by 20.4% in the second quarter. Cibc World Markets Corp now owns 63,194 shares of the oil and gas company’s stock valued at $4,263,000 after buying an additional 10,693 shares during the period. Suntrust Banks Inc. raised its holdings in Valero Energy Corporation by 3.6% in the second quarter. Suntrust Banks Inc. now owns 120,372 shares of the oil and gas company’s stock valued at $8,118,000 after buying an additional 4,171 shares during the period. Willis Investment Counsel raised its holdings in Valero Energy Corporation by 42.2% in the second quarter. Willis Investment Counsel now owns 165,800 shares of the oil and gas company’s stock valued at $11,185,000 after buying an additional 49,200 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Valero Energy Corporation by 0.4% in the second quarter. California Public Employees Retirement System now owns 1,372,283 shares of the oil and gas company’s stock valued at $92,574,000 after buying an additional 5,500 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.
Valero Energy Corporation (NYSE:VLO) traded up 1.27% during mid-day trading on Friday, hitting $74.29. 3,263,922 shares of the stock were exchanged. The company has a market cap of $32.81 billion, a P/E ratio of 18.34 and a beta of 1.19. Valero Energy Corporation has a one year low of $51.17 and a one year high of $74.36. The company has a 50-day moving average price of $68.09 and a 200-day moving average price of $66.42.
Valero Energy Corporation (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The company had revenue of $22.25 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts predict that Valero Energy Corporation will post $4.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.77%. Valero Energy Corporation’s dividend payout ratio (DPR) is presently 69.14%.
In other news, Director Stephen M. Waters sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total transaction of $102,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael S. Ciskowski sold 53,012 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total value of $3,863,514.56. Following the transaction, the chief financial officer now owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.
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VLO has been the topic of several research reports. Credit Suisse Group restated a “hold” rating and issued a $65.00 price target on shares of Valero Energy Corporation in a report on Wednesday, June 21st. Standpoint Research initiated coverage on shares of Valero Energy Corporation in a report on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price target on the stock. Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. ValuEngine upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, BidaskClub lowered shares of Valero Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $73.09.
Valero Energy Corporation 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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