Yorktown Management & Research Co Inc bought a new position in Valero Energy Co. (NYSE:VLO) during the second quarter, Holdings Channel reports. The firm bought 8,100 shares of the oil and gas company’s stock, valued at approximately $693,000.
Several other institutional investors and hedge funds also recently modified their holdings of VLO. Thoroughbred Financial Services LLC boosted its stake in shares of Valero Energy by 8,873.5% in the second quarter. Thoroughbred Financial Services LLC now owns 1,347,276 shares of the oil and gas company’s stock worth $134,728,000 after buying an additional 1,332,262 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Valero Energy by 29.3% in the second quarter. Janus Henderson Group PLC now owns 2,495,692 shares of the oil and gas company’s stock worth $213,658,000 after buying an additional 564,854 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Valero Energy in the first quarter worth about $40,981,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Valero Energy by 169.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 632,848 shares of the oil and gas company’s stock worth $53,312,000 after buying an additional 398,267 shares during the last quarter. Finally, Impala Asset Management LLC purchased a new stake in shares of Valero Energy in the first quarter worth about $31,956,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.
A number of brokerages have recently commented on VLO. JPMorgan Chase & Co. upgraded Valero Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $102.00 to $105.00 in a research note on Tuesday, May 14th. Goldman Sachs Group upgraded Valero Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $96.00 to $92.00 in a research note on Thursday, June 6th. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Wells Fargo & Co set a $107.00 target price on Valero Energy and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada set a $98.00 target price on Valero Energy and gave the stock 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 given a hold rating and twelve have issued a buy rating to the company. Valero Energy has an average rating of “Buy” and an average price target of $105.47.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The company had revenue of $28.93 billion during the quarter, compared to analysts’ expectations of $25.45 billion. Valero Energy had a return on equity of 11.31% and a net margin of 2.27%. Valero Energy’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 EPS. Equities analysts forecast that Valero Energy Co. will post 5.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 6th will be issued a $0.90 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.60 dividend on an annualized basis and a yield of 4.61%. Valero Energy’s payout ratio is 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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