CIBC Asset Management Inc grew its position in shares of Valero Energy Co. (NYSE:VLO) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,455 shares of the oil and gas company’s stock after purchasing an additional 1,356 shares during the period. CIBC Asset Management Inc’s holdings in Valero Energy were worth $2,674,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Valero Energy by 3.0% in the first quarter. BlackRock Inc. now owns 34,599,223 shares of the oil and gas company’s stock valued at $1,569,422,000 after buying an additional 998,183 shares during the last quarter. State Street Corp boosted its position in Valero Energy by 8.5% during the first quarter. State Street Corp now owns 23,382,644 shares of the oil and gas company’s stock worth $1,060,637,000 after acquiring an additional 1,824,740 shares during the last quarter. Victory Capital Management Inc. grew its stake in Valero Energy by 41.5% in the 1st quarter. Victory Capital Management Inc. now owns 3,586,884 shares of the oil and gas company’s stock worth $162,701,000 after acquiring an additional 1,052,007 shares during the period. APG Asset Management N.V. raised its holdings in Valero Energy by 62.5% in the 1st quarter. APG Asset Management N.V. now owns 3,227,282 shares of the oil and gas company’s stock valued at $243,817,000 after acquiring an additional 1,240,983 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Valero Energy by 71.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,055,647 shares of the oil and gas company’s stock worth $138,603,000 after purchasing an additional 1,276,000 shares during the period. 75.55% of the stock is currently owned by institutional investors.
VLO opened at $56.23 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.54. Valero Energy Co. has a 52-week low of $31.00 and a 52-week high of $101.99. The company has a 50 day moving average of $57.93 and a two-hundred day moving average of $63.78. The company has a market cap of $22.92 billion, a P/E ratio of 56.80 and a beta of 1.96.
Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 30th. The oil and gas company reported ($1.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.41) by $0.16. Valero Energy had a net margin of 0.41% and a return on equity of 10.51%. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the firm posted $1.51 EPS. The business’s revenue for the quarter was down 64.1% compared to the same quarter last year. Research analysts anticipate that Valero Energy Co. will post -1.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date is Monday, August 3rd. Valero Energy’s dividend payout ratio is presently 68.77%.
A number of equities research analysts have recently commented on the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Valero Energy in a research report on Thursday. Argus lowered their price target on Valero Energy from $110.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Jefferies Financial Group raised shares of Valero Energy from a “hold” rating to a “buy” rating and dropped their price objective for the company from $65.00 to $62.00 in a research note on Monday, July 20th. Barclays reissued a “buy” rating and issued a $71.00 target price on shares of Valero Energy in a research report on Tuesday, May 5th. Finally, Goldman Sachs Group lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research report on Tuesday, June 16th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Valero Energy has an average rating of “Buy” and a consensus price target of $74.14.
Valero Energy Profile
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.
Further Reading: Is it Safe to Invest in Commodities?
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.