tru Independence LLC trimmed its holdings in Valero Energy Co. (NYSE:VLO) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the oil and gas company’s stock after selling 800 shares during the quarter. tru Independence LLC’s holdings in Valero Energy were worth $139,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Verus Capital Partners LLC boosted its holdings in shares of Valero Energy by 18.4% during the first quarter. Verus Capital Partners LLC now owns 1,003 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 156 shares during the period. National Asset Management Inc. boosted its stake in shares of Valero Energy by 0.9% during the 2nd quarter. National Asset Management Inc. now owns 21,435 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 181 shares during the period. Covenant Asset Management LLC grew its holdings in shares of Valero Energy by 1.8% during the 2nd quarter. Covenant Asset Management LLC now owns 11,112 shares of the oil and gas company’s stock valued at $654,000 after acquiring an additional 193 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Valero Energy by 3.5% in the second quarter. Ropes Wealth Advisors LLC now owns 6,017 shares of the oil and gas company’s stock worth $354,000 after acquiring an additional 205 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Valero Energy by 0.6% during the second quarter. Sunbelt Securities Inc. now owns 32,100 shares of the oil and gas company’s stock worth $1,888,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 73.55% of the company’s stock.
Shares of NYSE:VLO traded up $1.96 during midday trading on Wednesday, reaching $48.52. The company’s stock had a trading volume of 75,440 shares, compared to its average volume of 4,886,411. Valero Energy Co. has a fifty-two week low of $31.00 and a fifty-two week high of $101.99. The company has a market capitalization of $18.99 billion, a P/E ratio of 18.36 and a beta of 1.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.75 and a quick ratio of 1.01. The business’s fifty day simple moving average is $52.91 and its 200-day simple moving average is $56.00.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported ($1.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.16. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $11.46 billion. Valero Energy had a net margin of 1.22% and a return on equity of 5.30%. The firm’s quarterly revenue was down 64.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS. On average, analysts forecast that Valero Energy Co. will post -2.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.98 per share. The ex-dividend date was Monday, August 3rd. This represents a $3.92 annualized dividend and a dividend yield of 8.08%. Valero Energy’s dividend payout ratio (DPR) is currently 68.77%.
Several research analysts have weighed in on the company. Mizuho dropped their target price on Valero Energy from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley reduced their price target on Valero Energy from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Goldman Sachs Group cut shares of Valero Energy from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research note on Tuesday, June 16th. JPMorgan Chase & Co. reduced their price objective on Valero Energy from $68.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Finally, Citigroup raised their target price on Valero Energy from $60.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $72.07.
Valero Energy Company Profile
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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