Bank of Nova Scotia raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 76.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 351,714 shares of the oil and gas company’s stock after buying an additional 151,849 shares during the period. Bank of Nova Scotia owned approximately 0.08% of Valero Energy Corporation worth $23,319,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Valero Energy Corporation during the fourth quarter valued at approximately $5,913,000. Pegasus Partners Ltd. raised its position in Valero Energy Corporation by 2.4% in the fourth quarter. Pegasus Partners Ltd. now owns 10,669 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 249 shares during the last quarter. Teachers Advisors LLC raised its position in Valero Energy Corporation by 15.9% in the fourth quarter. Teachers Advisors LLC now owns 811,432 shares of the oil and gas company’s stock valued at $55,437,000 after buying an additional 111,195 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Valero Energy Corporation during the fourth quarter valued at approximately $2,244,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Valero Energy Corporation during the fourth quarter valued at approximately $1,001,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.
Shares of Valero Energy Corporation (NYSE:VLO) opened at 66.15 on Friday. The stock has a 50 day moving average price of $67.59 and a 200-day moving average price of $66.16. Valero Energy Corporation has a 1-year low of $51.17 and a 1-year high of $71.40. The firm has a market cap of $29.22 billion, a price-to-earnings ratio of 16.33 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts expect that Valero Energy Corporation will post $4.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th will be paid a $0.70 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.23%. Valero Energy Corporation’s payout ratio is presently 69.14%.
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Several equities analysts recently commented on VLO shares. Jefferies Group LLC set a $65.00 target price on Valero Energy Corporation and gave the company a “hold” rating in a research note on Wednesday, April 19th. Citigroup Inc. reiterated a “neutral” rating and issued a $70.00 target price (up from $69.50) on shares of Valero Energy Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada reiterated a “buy” rating on shares of Valero Energy Corporation in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) lowered Valero Energy Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $65.55 to $73.00 in a research note on Tuesday, May 16th. Finally, US Capital Advisors restated an “overweight” rating on shares of Valero Energy Corporation in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Valero Energy Corporation presently has an average rating of “Buy” and an average price target of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of Valero Energy Corporation stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total value of $333,166.68. Following the transaction, the director now directly owns 9,866 shares in the company, valued at $638,132.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.45% of the company’s stock.
About Valero Energy Corporation
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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