Rockland Trust Co. acquired a new stake in Valero Energy Corporation (NYSE:VLO) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 24,054 shares of the oil and gas company’s stock, valued at approximately $1,623,000.
Several other institutional investors also recently modified their holdings of the company. Global X Management Co. LLC raised its position in shares of Valero Energy Corporation by 69.6% in the second quarter. Global X Management Co. LLC now owns 7,368 shares of the oil and gas company’s stock valued at $497,000 after buying an additional 3,023 shares in the last quarter. HL Financial Services LLC raised its position in shares of Valero Energy Corporation by 9.8% in the second quarter. HL Financial Services LLC now owns 47,597 shares of the oil and gas company’s stock valued at $3,211,000 after buying an additional 4,239 shares in the last quarter. Lakeview Capital Partners LLC raised its position in shares of Valero Energy Corporation by 2.9% in the second quarter. Lakeview Capital Partners LLC now owns 3,417 shares of the oil and gas company’s stock valued at $231,000 after buying an additional 97 shares in the last quarter. Advisor Partners LLC raised its position in shares of Valero Energy Corporation by 4.6% in the second quarter. Advisor Partners LLC now owns 11,600 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 509 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Valero Energy Corporation during the second quarter valued at approximately $857,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.
Shares of Valero Energy Corporation (VLO) opened at 64.55 on Friday. The stock has a 50 day moving average of $67.53 and a 200-day moving average of $66.12. Valero Energy Corporation has a one year low of $51.17 and a one year high of $71.40. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 15.93 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last posted 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. The firm had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Valero Energy Corporation will post $4.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 9th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.80 annualized dividend and a yield of 4.34%. Valero Energy Corporation’s dividend payout ratio is presently 69.14%.
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Several equities analysts have recently commented on the stock. BidaskClub lowered shares of Valero Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Scotiabank set a $70.00 target price on shares of Valero Energy Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. Citigroup Inc. reduced their target price on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, July 17th. Standpoint Research started coverage on shares of Valero Energy Corporation in a report on Friday, June 30th. They set an “accumulate” rating and a $84.00 target price on the stock. Finally, Jefferies Group LLC upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $80.00 in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.59.
In related news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total value of $333,166.68. Following the sale, the director now directly owns 9,866 shares of the company’s stock, valued at $638,132.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.45% of the company’s stock.
Valero Energy Corporation Company 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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