Wright Investors Service Inc. increased its holdings in shares of Valero Energy Co. (NYSE:VLO) by 77.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,309 shares of the oil and gas company’s stock after buying an additional 14,524 shares during the period. Valero Energy comprises approximately 1.1% of Wright Investors Service Inc.’s portfolio, making the stock its 27th largest position. Wright Investors Service Inc.’s holdings in Valero Energy were worth $2,851,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of VLO. Advisory Alpha LLC acquired a new position in shares of Valero Energy in the 1st quarter worth approximately $27,000. Archford Capital Strategies LLC lifted its position in shares of Valero Energy by 122.7% in the 2nd quarter. Archford Capital Strategies LLC now owns 363 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Covenant Multifamily Offices LLC acquired a new position in shares of Valero Energy in the 1st quarter worth approximately $36,000. First Manhattan Co. lifted its position in shares of Valero Energy by 47.1% in the 1st quarter. First Manhattan Co. now owns 453 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 145 shares during the period. Finally, NuWave Investment Management LLC lifted its position in shares of Valero Energy by 1,107.7% in the 2nd quarter. NuWave Investment Management LLC now owns 471 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 432 shares during the period. Institutional investors and hedge funds own 77.47% of the company’s stock.
A number of research analysts have recently issued reports on VLO shares. Raymond James boosted their price target on shares of Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada set a $98.00 price target on shares of Valero Energy and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upgraded shares of Valero Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $102.00 to $105.00 in a research report on Tuesday, May 14th. Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $96.00 to $92.00 in a research report on Thursday, June 6th. Finally, Wells Fargo & Co set a $107.00 price target on shares of Valero Energy and gave the stock a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.47.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. The company had revenue of $28.93 billion during the quarter, compared to analyst estimates of $25.45 billion. Valero Energy had a net margin of 2.27% and a return on equity of 11.31%. Valero Energy’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 EPS. On average, equities research analysts predict that Valero Energy Co. will post 5.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 6th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.60 annualized dividend and a dividend yield of 4.74%. Valero Energy’s dividend payout ratio is currently 48.85%.
About Valero Energy
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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