People s United Financial Inc. reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,413 shares of the oil and gas company’s stock after selling 4,189 shares during the quarter. People s United Financial Inc.’s holdings in Valero Energy were worth $2,777,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Cleararc Capital Inc. lifted its holdings in Valero Energy by 57.8% during the second quarter. Cleararc Capital Inc. now owns 40,728 shares of the oil and gas company’s stock worth $4,514,000 after acquiring an additional 14,913 shares during the period. Community Bank & Trust Waco Texas lifted its holdings in Valero Energy by 7.6% during the third quarter. Community Bank & Trust Waco Texas now owns 35,570 shares of the oil and gas company’s stock worth $4,046,000 after acquiring an additional 2,505 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Valero Energy by 8.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 35,474 shares of the oil and gas company’s stock worth $4,036,000 after acquiring an additional 2,679 shares during the period. Bailard Inc. lifted its holdings in Valero Energy by 62.1% during the second quarter. Bailard Inc. now owns 4,405 shares of the oil and gas company’s stock worth $488,000 after acquiring an additional 1,687 shares during the period. Finally, Vanguard Capital Wealth Advisors bought a new stake in Valero Energy during the third quarter worth $289,000. Institutional investors and hedge funds own 78.74% of the company’s stock.
A number of analysts recently commented on VLO shares. Standpoint Research upgraded Valero Energy from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Wells Fargo & Co dropped their price target on Valero Energy from $141.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, October 26th. ValuEngine upgraded Valero Energy from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Goldman Sachs Group lowered Valero Energy from a “neutral” rating to a “sell” rating in a report on Friday, October 19th. Finally, Tudor Pickering lowered Valero Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $116.80.
Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, October 25th. The oil and gas company reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.06. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $31.82 billion. Valero Energy had a return on equity of 11.90% and a net margin of 3.96%. Research analysts anticipate that Valero Energy Co. will post 6.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Tuesday, November 20th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.20 annualized dividend and a dividend yield of 4.02%. Valero Energy’s payout ratio is presently 64.52%.
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Valero Energy Profile
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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