Summa Corp. Reduces Holdings in Valero Energy Corporation $VLO

Summa Corp. lessened its position in shares of Valero Energy Corporation (NYSE:VLO) by 86.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,400 shares of the oil and gas company’s stock after selling 35,000 shares during the quarter. Valero Energy accounts for 0.4% of Summa Corp.’s holdings, making the stock its 28th largest holding. Summa Corp.’s holdings in Valero Energy were worth $726,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hoey Investments Inc. purchased a new position in shares of Valero Energy during the 2nd quarter valued at $26,000. Wayfinding Financial LLC purchased a new stake in Valero Energy during the 1st quarter worth about $26,000. GFG Capital LLC purchased a new stake in Valero Energy during the 2nd quarter worth about $27,000. Hazlett Burt & Watson Inc. lifted its holdings in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Valero Energy during the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $158.19 on Friday. The firm has a market capitalization of $49.14 billion, a P/E ratio of 65.91, a P/E/G ratio of 1.69 and a beta of 1.05. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $153.45 and its two-hundred day simple moving average is $137.94. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 EPS. As a group, equities analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.9%. Valero Energy’s dividend payout ratio is 188.33%.

Analyst Ratings Changes

VLO has been the topic of a number of recent research reports. Wolfe Research cut Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI increased their price objective on Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. UBS Group increased their price objective on Valero Energy from $165.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Jefferies Financial Group increased their price objective on Valero Energy from $181.00 to $194.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley cut Valero Energy from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $160.00 to $175.00 in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.80.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.