MU Investments Co. Ltd. lowered its stake in shares of Valero Energy Corp. (NYSE:VLO) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 64,200 shares of the company’s stock after selling 2,600 shares during the period. Valero Energy Corp. comprises approximately 2.3% of MU Investments Co. Ltd.’s portfolio, making the stock its 27th largest position. MU Investments Co. Ltd.’s holdings in Valero Energy Corp. were worth $3,333,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in VLO. Cullen Frost Bankers Inc. increased its position in Valero Energy Corp. by 8.1% in the second quarter. Cullen Frost Bankers Inc. now owns 345,392 shares of the company’s stock valued at $17,615,000 after buying an additional 25,916 shares during the period. Legal & General Group Plc increased its position in Valero Energy Corp. by 2.3% in the first quarter. Legal & General Group Plc now owns 2,455,753 shares of the company’s stock valued at $157,474,000 after buying an additional 56,133 shares during the period. Douglas Lane & Associates LLC increased its position in Valero Energy Corp. by 4.5% in the second quarter. Douglas Lane & Associates LLC now owns 593,791 shares of the company’s stock valued at $30,283,000 after buying an additional 25,327 shares during the period. Bank of Montreal Can bought a new position in Valero Energy Corp. during the second quarter valued at about $176,332,000. Finally, Origin Asset Management LLP increased its position in Valero Energy Corp. by 20.7% in the first quarter. Origin Asset Management LLP now owns 443,191 shares of the company’s stock valued at $28,426,000 after buying an additional 76,006 shares during the period. 78.49% of the stock is owned by institutional investors and hedge funds.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 1.34% on Tuesday, reaching $55.02. The company’s stock had a trading volume of 5,951,975 shares. Valero Energy Corp. has a 1-year low of $46.88 and a 1-year high of $73.88. The stock has a market capitalization of $25.38 billion, a P/E ratio of 8.84 and a beta of 1.97. The company has a 50 day moving average of $55.11 and a 200 day moving average of $56.02.
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, topping the Zacks’ consensus estimate 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 firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $16.79 billion. During the same quarter in the prior year, the company posted $2.66 earnings per share. Valero Energy Corp.’s quarterly revenue was down 22.0% on a year-over-year basis. Equities research analysts expect that Valero Energy Corp. will post $3.33 earnings per share for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Tuesday, August 9th. Valero Energy Corp.’s dividend payout ratio is presently 38.77%.
Several equities analysts have recently issued reports on VLO shares. Barclays PLC restated an “overweight” rating and set a $73.00 price objective on shares of Valero Energy Corp. in a report on Thursday, July 28th. Scotiabank restated a “sector outperform” rating and set a $60.00 price objective (down previously from $61.00) on shares of Valero Energy Corp. in a report on Wednesday, July 27th. Goldman Sachs Group Inc. restated a “top pick” rating on shares of Valero Energy Corp. in a report on Thursday, June 30th. Vetr downgraded shares of Valero Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $57.85 price objective on the stock. in a 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 report on Monday, August 22nd. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company 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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