AMG Funds LLC increased its position in Valero Energy Corporation (NYSE:VLO) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,824 shares of the oil and gas company’s stock after acquiring an additional 110 shares during the period. AMG Funds LLC’s holdings in Valero Energy Corporation were worth $1,810,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Valero Energy Corporation by 2,578.1% during the 1st quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock valued at $2,533,433,000 after buying an additional 36,790,343 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Valero Energy Corporation by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 33,405,279 shares of the oil and gas company’s stock worth $2,214,436,000 after buying an additional 827,661 shares during the period. LSV Asset Management boosted its holdings in Valero Energy Corporation by 4.2% in the 2nd quarter. LSV Asset Management now owns 9,076,859 shares of the oil and gas company’s stock worth $612,324,000 after buying an additional 366,009 shares during the period. American International Group Inc. boosted its holdings in Valero Energy Corporation by 1.4% in the 1st quarter. American International Group Inc. now owns 7,539,695 shares of the oil and gas company’s stock worth $499,806,000 after buying an additional 102,794 shares during the period. Finally, APG Asset Management N.V. boosted its holdings in Valero Energy Corporation by 1.9% in the 2nd quarter. APG Asset Management N.V. now owns 5,103,965 shares of the oil and gas company’s stock worth $344,313,000 after buying an additional 97,550 shares during the period. Institutional investors own 80.69% of the company’s stock.
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Valero Energy Corporation (VLO) opened at 74.29 on Friday. The stock’s 50 day moving average is $68.09 and its 200-day moving average is $66.42. Valero Energy Corporation has a 1-year low of $51.17 and a 1-year high of $74.36. The company has a market capitalization of $32.81 billion, a P/E ratio of 18.34 and a beta of 1.19.
Valero Energy Corporation (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The company had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts expect that Valero Energy Corporation will post $4.36 earnings per share for the current fiscal year.
The company 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. This represents a $2.80 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Monday, August 7th. Valero Energy Corporation’s dividend payout ratio (DPR) is 69.14%.
Several research analysts have commented on VLO shares. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 price objective on shares of Valero Energy Corporation in a report on Thursday, August 31st. Credit Suisse Group reissued a “hold” rating and set a $65.00 price objective on shares of Valero Energy Corporation in a report on Wednesday, June 21st. Morgan Stanley cut shares of Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $77.00 to $70.00 in a research report on Tuesday, May 30th. BidaskClub cut shares of Valero Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Scotiabank set a $70.00 target price on shares of Valero Energy Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Valero Energy Corporation currently has a consensus rating of “Buy” and an average price target of $73.09.
In other news, Director Stephen M. Waters sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $68.00, for a total transaction of $102,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael S. Ciskowski sold 53,012 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now directly owns 67,413 shares of the company’s stock, valued at approximately $4,913,059.44. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.
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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