Smith Graham & Co. Investment Advisors LP reduced its position in Valero Energy Co. (NYSE:VLO) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,770 shares of the oil and gas company’s stock after selling 2,640 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Valero Energy were worth $5,288,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in VLO. Advisory Alpha LLC bought a new stake in shares of Valero Energy in the first quarter valued at about $27,000. Archford Capital Strategies LLC raised its holdings in shares of Valero Energy by 122.7% in the second quarter. Archford Capital Strategies LLC now owns 363 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Covenant Multifamily Offices LLC bought a new stake in shares of Valero Energy in the first quarter valued at about $36,000. First Manhattan Co. raised its holdings in shares of Valero Energy by 47.1% in the first quarter. First Manhattan Co. now owns 453 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 145 shares in the last quarter. Finally, NuWave Investment Management LLC raised its holdings in shares of Valero Energy by 1,107.7% in the second quarter. NuWave Investment Management LLC now owns 471 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.
Valero Energy stock traded up $0.09 during trading hours on Friday, reaching $78.85. The stock had a trading volume of 3,311,129 shares, compared to its average volume of 3,120,688. The company has a market capitalization of $32.86 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.84 and a beta of 1.48. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $82.83. Valero Energy Co. has a 52 week low of $68.81 and a 52 week high of $122.42.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 6th will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, August 5th. This represents a $3.60 annualized dividend and a dividend yield of 4.57%. Valero Energy’s dividend payout ratio (DPR) is currently 48.85%.
Several research firms recently weighed in on VLO. Wells Fargo & Co set a $107.00 price objective on Valero Energy and gave the company a “buy” rating in a report on Friday, July 26th. Morgan Stanley boosted their target price on shares of Valero Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Raymond James boosted their target price on shares of Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upgraded shares of Valero Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $102.00 to $105.00 in a report on Tuesday, May 14th. Finally, Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $96.00 to $92.00 in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Valero Energy presently has a consensus rating of “Buy” and an average target price of $105.47.
About Valero Energy
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.
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