Millennium Management LLC boosted its holdings in Valero Energy Co. (NYSE:VLO) by 77.7% during the 1st quarter, HoldingsChannel reports. The fund owned 300,447 shares of the oil and gas company’s stock after buying an additional 131,325 shares during the period. Millennium Management LLC’s holdings in Valero Energy were worth $27,872,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in VLO. LSV Asset Management raised its stake in Valero Energy by 0.5% during the 1st quarter. LSV Asset Management now owns 8,934,495 shares of the oil and gas company’s stock valued at $828,853,000 after buying an additional 41,783 shares during the last quarter. Geode Capital Management LLC raised its stake in Valero Energy by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock valued at $445,213,000 after buying an additional 72,930 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Valero Energy by 6.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,710,882 shares of the oil and gas company’s stock valued at $344,259,000 after buying an additional 228,702 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Valero Energy during the 4th quarter valued at $302,721,000. Finally, O Shaughnessy Asset Management LLC raised its stake in Valero Energy by 2.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,862,024 shares of the oil and gas company’s stock valued at $172,743,000 after buying an additional 52,871 shares during the last quarter. 77.66% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on VLO. Credit Suisse Group boosted their target price on shares of Valero Energy from $118.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, June 4th. Wells Fargo & Co boosted their target price on shares of Valero Energy from $122.00 to $146.00 and gave the company a “positive” rating in a research note on Tuesday, May 29th. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Morgan Stanley upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $114.99 to $110.00 in a research note on Thursday, May 17th. Finally, Edward Jones upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Thursday, May 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.65.
Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, April 26th. The oil and gas company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.93 by $0.07. The firm had revenue of $264.90 million during the quarter, compared to analyst estimates of $23.35 billion. Valero Energy had a return on equity of 10.61% and a net margin of 4.29%. Valero Energy’s revenue was down 98.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. sell-side analysts expect that Valero Energy Co. will post 7.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Thursday, May 17th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, May 16th. Valero Energy’s dividend payout ratio is currently 64.52%.
In related news, insider Joseph W. Gorder sold 85,493 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $121.23, for a total value of $10,364,316.39. Following the completion of the transaction, the insider now owns 524,864 shares of the company’s stock, valued at approximately $63,629,262.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen M. Waters sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $121.04, for a total transaction of $121,040.00. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.
Valero Energy Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. 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. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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