Eaton Vance Management reduced its stake in Valero Energy Corp. (NYSE:VLO) by 29.9% during the second quarter, Holdings Channel reports. The fund owned 12,155 shares of the company’s stock after selling 5,192 shares during the period. Eaton Vance Management’s holdings in Valero Energy Corp. were worth $620,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. OLD National Bancorp IN increased its stake in Valero Energy Corp. by 13.0% in the second quarter. OLD National Bancorp IN now owns 7,040 shares of the company’s stock valued at $359,000 after buying an additional 808 shares in the last quarter. Pegasus Partners Ltd. increased its stake in Valero Energy Corp. by 15.7% in the second quarter. Pegasus Partners Ltd. now owns 10,445 shares of the company’s stock valued at $533,000 after buying an additional 1,415 shares in the last quarter. Advance Capital I Inc. bought a new stake in Valero Energy Corp. during the second quarter valued at $520,000. AT Bancorp bought a new stake in Valero Energy Corp. during the second quarter valued at $3,845,000. Finally, Commerce Bank increased its stake in Valero Energy Corp. by 13.2% in the second quarter. Commerce Bank now owns 23,220 shares of the company’s stock valued at $1,184,000 after buying an additional 2,702 shares in the last quarter. 78.49% of the stock is owned by institutional investors and hedge funds.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 2.09% on Friday, hitting $52.79. 4,117,901 shares of the company’s stock were exchanged. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 8.48 and a beta of 1.97. The company’s 50-day moving average price is $55.17 and its 200 day moving average price is $55.91. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88.
Valero Energy Corp. (NYSE:VLO) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.04. Valero Energy Corp. had a net margin of 3.89% and a return on equity of 14.05%. The business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $16.79 billion. During the same period last year, the business earned $2.66 EPS. The company’s revenue was down 22.0% on a year-over-year basis. On average, equities analysts predict that Valero Energy Corp. will post $3.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 11th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.64%. Valero Energy Corp.’s payout ratio is 38.77%.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Valero Energy Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Vetr raised shares of Valero Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $63.15 price target for the company in a research note on Wednesday, August 31st. Piper Jaffray Cos. lifted their price target on shares of Valero Energy Corp. from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. Jefferies Group assumed coverage on shares of Valero Energy Corp. in a research note on Tuesday, August 23rd. They set a “buy” rating and a $66.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Valero Energy Corp. from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, June 10th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $69.76.
Valero Energy Corp. Company Profile
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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