Northpointe Capital LLC increased its position in Valero Energy Corp. (NYSE:VLO) by 20.6% during the second quarter, Holdings Channel reports. The firm owned 56,304 shares of the company’s stock after buying an additional 9,627 shares during the period. Northpointe Capital LLC’s holdings in Valero Energy Corp. were worth $2,872,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in Valero Energy Corp. by 1.1% in the first quarter. State Street Corp now owns 25,431,263 shares of the company’s stock worth $1,631,162,000 after buying an additional 272,218 shares during the period. JPMorgan Chase & Co. raised its position in shares of Valero Energy Corp. by 8.2% in the first quarter. JPMorgan Chase & Co. now owns 10,722,227 shares of the company’s stock valued at $687,723,000 after buying an additional 813,060 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Valero Energy Corp. by 9.3% in the first quarter. BlackRock Fund Advisors now owns 7,180,317 shares of the company’s stock valued at $460,546,000 after buying an additional 612,444 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Valero Energy Corp. during the second quarter valued at $176,332,000. Finally, Nordea Investment Management AB raised its position in shares of Valero Energy Corp. by 0.3% in the second quarter. Nordea Investment Management AB now owns 2,949,462 shares of the company’s stock valued at $150,423,000 after buying an additional 7,504 shares during 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 2.14% during midday trading on Wednesday, hitting $54.80. 6,393,874 shares of the stock traded hands. Valero Energy Corp. has a 1-year low of $46.88 and a 1-year high of $73.88. The company has a market capitalization of $25.28 billion, a P/E ratio of 8.81 and a beta of 1.87. The stock has a 50 day moving average of $55.09 and a 200 day moving average of $55.52.
Valero Energy Corp. (NYSE:VLO) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. Valero Energy Corp. had a return on equity of 14.05% and a net margin of 3.89%. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $16.79 billion. During the same quarter in the prior year, the business earned $2.66 EPS. The firm’s revenue for the quarter was down 22.0% on a year-over-year basis. Equities research analysts predict that Valero Energy Corp. will post $3.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 11th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Tuesday, August 9th. Valero Energy Corp.’s dividend payout ratio (DPR) is presently 38.77%.
Several equities analysts recently weighed in on VLO shares. Vetr raised shares of Valero Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $63.15 price objective on the stock in a research report on Wednesday, August 31st. Jefferies Group started coverage on shares of Valero Energy Corp. in a research report on Tuesday, August 23rd. They set a “buy” rating and a $66.00 price objective on the stock. Piper Jaffray Cos. raised 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. Goldman Sachs Group Inc. reaffirmed a “top pick” rating on shares of Valero Energy Corp. in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $62.00 price objective on shares of Valero Energy Corp. in a research report on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.76.
About Valero Energy Corp.
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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