Traynor Capital Management Inc. bought a new position in Valero Energy Corp. (NYSE:VLO) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 4,661 shares of the company’s stock, valued at approximately $232,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Valero Energy Corp. during the second quarter worth $176,332,000. Old Mutual Global Investors UK Ltd. raised its position in Valero Energy Corp. by 1,858.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,810,144 shares of the company’s stock worth $92,317,000 after buying an additional 1,717,712 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Valero Energy Corp. during the first quarter worth $85,266,000. AMF Pensionsforsakring AB raised its position in Valero Energy Corp. by 1,878.3% in the first quarter. AMF Pensionsforsakring AB now owns 1,054,455 shares of the company’s stock worth $67,633,000 after buying an additional 1,001,155 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Valero Energy Corp. by 8.2% in the first quarter. JPMorgan Chase & Co. now owns 10,722,227 shares of the company’s stock worth $687,723,000 after buying an additional 813,060 shares in the last quarter. 78.49% of the stock is owned by hedge funds and other institutional investors.
Valero Energy Corp. (NYSE:VLO) traded up 0.16% during mid-day trading on Wednesday, hitting $55.11. 6,714,843 shares of the stock traded hands. Valero Energy Corp. has a one year low of $46.88 and a one year high of $73.88. The stock has a market capitalization of $25.42 billion, a PE ratio of 8.86 and a beta of 1.97. The company has a 50 day moving average price of $55.13 and a 200-day moving average price of $55.95.
Valero Energy Corp. (NYSE:VLO) last announced its earnings results on Tuesday, July 26th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.03 by $0.04. The business earned $19.58 billion during the quarter, compared to the consensus estimate of $16.79 billion. Valero Energy Corp. had a net margin of 3.89% and a return on equity of 14.05%. Valero Energy Corp.’s revenue was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.66 EPS. Equities analysts anticipate that Valero Energy Corp. will post $3.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 11th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Tuesday, August 9th. Valero Energy Corp.’s payout ratio is 38.77%.
A number of research analysts have weighed in on VLO shares. Barclays PLC reissued an “overweight” rating and set a $73.00 target price on shares of Valero Energy Corp. in a research report on Thursday, July 28th. Scotiabank reissued a “sector outperform” rating and set a $60.00 target price (down previously from $61.00) on shares of Valero Energy Corp. in a research report on Wednesday, July 27th. Goldman Sachs Group Inc. reissued a “top pick” rating on shares of Valero Energy Corp. in a research report on Thursday, June 30th. Vetr lowered shares of Valero Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $57.85 price objective for the company. in a research report on Tuesday, July 26th. Finally, Piper Jaffray Cos. upped their price objective on shares of Valero Energy Corp. from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, August 22nd. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Valero Energy Corp. currently has an average rating of “Buy” and an average price target 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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