First Trust Advisors LP cut its stake in Valero Energy Co. (NYSE:VLO) by 72.6% in the third quarter, HoldingsChannel reports. The fund owned 147,483 shares of the oil and gas company’s stock after selling 390,489 shares during the period. First Trust Advisors LP’s holdings in Valero Energy were worth $6,389,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Hoover Financial Advisors Inc. acquired a new position in Valero Energy in the second quarter valued at approximately $35,000. Harbor Investment Advisory LLC raised its stake in shares of Valero Energy by 888.5% during the 3rd quarter. Harbor Investment Advisory LLC now owns 603 shares of the oil and gas company’s stock worth $26,000 after buying an additional 542 shares during the period. Demars Financial Group LLC acquired a new position in shares of Valero Energy during the 2nd quarter worth approximately $36,000. Brand Asset Management Group Inc. raised its stake in shares of Valero Energy by 52.0% during the 3rd quarter. Brand Asset Management Group Inc. now owns 909 shares of the oil and gas company’s stock worth $39,000 after buying an additional 311 shares during the period. Finally, First Command Bank raised its stake in shares of Valero Energy by 53.6% during the 3rd quarter. First Command Bank now owns 1,032 shares of the oil and gas company’s stock worth $45,000 after buying an additional 360 shares during the period. 73.55% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on VLO. CSFB reaffirmed a “buy” rating on shares of Valero Energy in a research note on Wednesday, September 30th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Valero Energy in a research note on Thursday, July 30th. Barclays reduced their target price on Valero Energy from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 22nd. Finally, Morgan Stanley reduced their price objective on Valero Energy from $68.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $65.36.
Shares of NYSE:VLO opened at $50.82 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $42.87 and a two-hundred day moving average of $53.52. The stock has a market cap of $20.72 billion, a P/E ratio of 19.62 and a beta of 1.89. Valero Energy Co. has a 52-week low of $31.00 and a 52-week high of $99.72.
Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 22nd. The oil and gas company reported ($1.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.35) by $0.19. The company had revenue of $15.81 billion during the quarter, compared to analysts’ expectations of $14.79 billion. Valero Energy had a return on equity of 5.30% and a net margin of 1.22%. The firm’s quarterly revenue was down 42.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. On average, equities analysts anticipate that Valero Energy Co. will post -3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date is Tuesday, November 17th. Valero Energy’s dividend payout ratio is presently 68.77%.
Valero Energy Company Profile
Valero Energy Corporation manufactures and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and Renewable Diesel. The company is involved in oil and gas refining, marketing, and bulk selling activities.
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