Penobscot Investment Management Company Inc. Reduces Stock Holdings in Valero Energy Co. (NYSE:VLO)

Penobscot Investment Management Company Inc. reduced its holdings in Valero Energy Co. (NYSE:VLO) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,605 shares of the oil and gas company’s stock after selling 2,370 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Valero Energy were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VLO. Thoroughbred Financial Services LLC boosted its holdings in shares of Valero Energy by 8,873.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,347,276 shares of the oil and gas company’s stock valued at $134,728,000 after acquiring an additional 1,332,262 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Valero Energy by 29.3% during 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 in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in Valero Energy during the first quarter worth $40,981,000. DekaBank Deutsche Girozentrale boosted its holdings in Valero Energy by 169.8% during 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 in the last quarter. Finally, Impala Asset Management LLC purchased a new stake in Valero Energy during the first quarter worth $31,956,000. 77.47% of the stock is currently owned by institutional investors and hedge funds.

VLO stock traded up $1.44 during midday trading on Friday, reaching $78.16. 111,547 shares of the company were exchanged, compared to its average volume of 3,311,322. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.42. Valero Energy Co. has a 1-year low of $68.81 and a 1-year high of $122.42. The stock’s 50-day simple moving average is $82.30 and its 200 day simple moving average is $82.93. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.84 and a beta of 1.48.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. Valero Energy had a net margin of 2.27% and a return on equity of 11.31%. The business had revenue of $28.93 billion for the quarter, compared to analysts’ expectations of $25.45 billion. During the same period in the previous year, the company posted $2.15 EPS. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts anticipate that Valero Energy Co. will post 5.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 6th will be given 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 dividend payout ratio (DPR) is 48.85%.

A number of analysts recently issued reports on the stock. Raymond James increased their price target on shares of Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Royal Bank of Canada set a $98.00 price objective on shares of Valero Energy and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine cut shares of Valero Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upgraded shares of Valero Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $102.00 to $105.00 in a research report on Tuesday, May 14th. Finally, Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $96.00 to $92.00 in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The company 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.

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

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