LSV Asset Management lowered its position in Valero Energy Co. (NYSE:VLO) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,746,220 shares of the oil and gas company’s stock after selling 1,188,275 shares during the period. Valero Energy comprises 1.3% of LSV Asset Management’s holdings, making the stock its 7th largest position. LSV Asset Management owned 1.80% of Valero Energy worth $858,513,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kaizen Advisory LLC increased its holdings in Valero Energy by 156.8% during the 2nd quarter. Kaizen Advisory LLC now owns 1,063 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 649 shares in the last quarter. Kiley Juergens Wealth Management LLC bought a new position in Valero Energy during the 2nd quarter worth about $117,000. KHP Capital LLC bought a new position in Valero Energy during the 1st quarter worth about $104,000. Stelac Advisory Services LLC bought a new position in Valero Energy during the 2nd quarter worth about $125,000. Finally, Trust Co. of Vermont increased its holdings in Valero Energy by 70.4% during the 2nd quarter. Trust Co. of Vermont now owns 1,452 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.
A number of research firms have recently commented on VLO. Wells Fargo & Co increased their price objective on shares of Valero Energy from $122.00 to $146.00 and gave the stock a “positive” rating in a research note on Tuesday, May 29th. Argus increased their price objective on shares of Valero Energy to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. Cowen increased their price objective on shares of Valero Energy from $100.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 26th. Credit Suisse Group increased their price objective on shares of Valero Energy from $102.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. Finally, Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the stock. Valero Energy presently has a consensus rating of “Hold” and an average target price of $113.33.
Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 26th. The oil and gas company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.17. Valero Energy had a net margin of 4.21% and a return on equity of 12.06%. The business had revenue of $31.02 billion during the quarter, compared to the consensus estimate of $26.56 billion. During the same period last year, the business posted $1.23 EPS. Valero Energy’s revenue was up 39.4% on a year-over-year basis. sell-side analysts expect that Valero Energy Co. will post 6.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Tuesday, August 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, August 6th. This represents a $3.20 annualized dividend and a yield of 2.87%. Valero Energy’s dividend payout ratio (DPR) is currently 64.52%.
In related news, insider Joseph W. Gorder sold 85,493 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $121.23, for a total value of $10,364,316.39. Following the completion of the sale, the insider now directly owns 524,864 shares in the company, valued at approximately $63,629,262.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen M. Waters sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $121.04, for a total transaction of $121,040.00. The disclosure for this sale can be found here. Insiders sold a total of 87,493 shares of company stock valued at $10,602,116 over the last quarter. 0.41% of the stock is currently owned by company insiders.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. 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. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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