Conning Inc. Acquires 33,033 Shares of Valero Energy Co. (NYSE:VLO)

Conning Inc. raised its holdings in Valero Energy Co. (NYSE:VLO) by 6.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 556,168 shares of the oil and gas company’s stock after buying an additional 33,033 shares during the quarter. Valero Energy accounts for about 1.6% of Conning Inc.’s investment portfolio, making the stock its 6th largest position. Conning Inc.’s holdings in Valero Energy were worth $47,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Putnam FL Investment Management Co. acquired a new stake in shares of Valero Energy during the 2nd quarter worth approximately $197,000. United Capital Management of KS Inc. grew its holdings in shares of Valero Energy by 3.9% during the 2nd quarter. United Capital Management of KS Inc. now owns 6,688 shares of the oil and gas company’s stock worth $563,000 after purchasing an additional 248 shares in the last quarter. Neumann Capital Management LLC grew its holdings in shares of Valero Energy by 11.3% during the 2nd quarter. Neumann Capital Management LLC now owns 11,798 shares of the oil and gas company’s stock worth $1,010,000 after purchasing an additional 1,200 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Valero Energy by 2.6% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,760 shares of the oil and gas company’s stock worth $664,000 after purchasing an additional 193 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Valero Energy during the 2nd quarter worth approximately $1,097,000. 77.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of VLO stock opened at $75.78 on Tuesday. The company has a fifty day moving average of $82.93. The company has a current ratio of 1.43, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The firm has a market cap of $34.24 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.48. Valero Energy Co. has a one year low of $68.81 and a one year high of $122.42.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.14. The business had revenue of $28.93 billion for the quarter, compared to analyst estimates of $25.45 billion. Valero Energy had a return on equity of 11.23% and a net margin of 2.27%. Valero Energy’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.15 EPS. As a group, research analysts anticipate that Valero Energy Co. will post 5.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 6th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.60 annualized dividend and a yield of 4.75%. Valero Energy’s payout ratio is 48.85%.

VLO has been the topic of several recent research reports. Raymond James lifted their price objective on Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a research note on Friday. Royal Bank of Canada set a $98.00 price target on Valero Energy and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price target on Valero Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Co set a $107.00 price target on Valero Energy and gave the company a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Valero Energy currently has an average rating of “Buy” and an average price target of $105.47.

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.

Read More: Economic Bubble

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLO).

Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.