Strategy Asset Managers LLC grew its stake in Valero Energy Co. (NYSE:VLO) by 112.8% in the first quarter, Holdings Channel reports. The fund owned 27,398 shares of the oil and gas company’s stock after purchasing an additional 14,526 shares during the period. Strategy Asset Managers LLC’s holdings in Valero Energy were worth $2,324,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Northwest Bancshares Inc. increased its position in shares of Valero Energy by 3.0% during the 1st quarter. Northwest Bancshares Inc. now owns 3,887 shares of the oil and gas company’s stock worth $330,000 after purchasing an additional 115 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Valero Energy by 9.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,384 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 116 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Valero Energy by 2.3% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,340 shares of the oil and gas company’s stock worth $453,000 after purchasing an additional 120 shares during the last quarter. RDL Financial Inc. increased its position in shares of Valero Energy by 0.6% during the 1st quarter. RDL Financial Inc. now owns 24,114 shares of the oil and gas company’s stock worth $2,046,000 after purchasing an additional 133 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in Valero Energy by 2.4% during the 4th quarter. Impax Asset Management Group plc now owns 5,865 shares of the oil and gas company’s stock valued at $440,000 after acquiring an additional 137 shares during the period. 78.48% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on VLO. Morgan Stanley lifted their price objective on Valero Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. ValuEngine cut Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Argus set a $110.00 price objective on Valero Energy and gave the company a “buy” rating in a research note on Tuesday, February 5th. JPMorgan Chase & Co. upgraded Valero Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $102.00 to $105.00 in a research note on Tuesday, May 14th. Finally, Goldman Sachs Group upgraded Valero Energy from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Friday, January 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $107.82.
In other Valero Energy news, Director Stephen M. Waters bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was purchased at an average price of $84.97 per share, for a total transaction of $42,485.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.
Shares of VLO traded up $0.28 during midday trading on Tuesday, hitting $82.36. The company had a trading volume of 101,291 shares, compared to its average volume of 3,775,723. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.43. The stock has a market capitalization of $34.68 billion, a PE ratio of 11.16, a PEG ratio of 1.60 and a beta of 1.18. Valero Energy Co. has a 1 year low of $68.81 and a 1 year high of $126.98.
Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.14. The firm had revenue of $24.26 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Valero Energy had a return on equity of 12.52% and a net margin of 2.43%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Analysts predict that Valero Energy Co. will post 6.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.37%. The ex-dividend date is Tuesday, May 14th. Valero Energy’s payout ratio is 48.85%.
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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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