Cullinan Associates Inc. Has $229,000 Holdings in Valero Energy Corporation $VLO

Cullinan Associates Inc. lessened its stake in Valero Energy Corporation (NYSE:VLO) by 22.7% in the second quarter, Holdings Channel reports. The firm owned 1,700 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Cullinan Associates Inc.’s holdings in Valero Energy were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Valero Energy by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock valued at $1,510,586,000 after purchasing an additional 736,533 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after acquiring an additional 7,931,018 shares in the last quarter. Invesco Ltd. raised its stake in Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock worth $647,823,000 after acquiring an additional 1,247,196 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Valero Energy during the first quarter worth about $529,864,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analysts Set New Price Targets

VLO has been the subject of several research analyst reports. Mizuho boosted their target price on Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Morgan Stanley downgraded Valero Energy from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $160.00 to $175.00 in a research note on Friday. TD Cowen downgraded Valero Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Valero Energy in a report on Saturday, September 27th. Finally, Evercore ISI increased their price target on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.07.

Valero Energy Stock Performance

Shares of VLO opened at $160.37 on Monday. The company has a market cap of $49.82 billion, a PE ratio of 66.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $151.24 and a 200-day moving average price of $136.96. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.62. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.Valero Energy’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. As a group, equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy’s dividend payout ratio is presently 188.33%.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.