Argyle Capital Management Inc. held its stake in Valero Energy Corp. (NYSE:VLO) during the second quarter, Holdings Channel reports. The firm owned 12,921 shares of the company’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Valero Energy Corp. were worth $659,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in VLO. Legal & General Group Plc boosted its stake 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 worth $157,474,000 after buying an additional 56,133 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake 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 worth $17,615,000 after buying an additional 25,916 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake 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 worth $30,283,000 after buying an additional 25,327 shares in the last quarter. Bank of Montreal Can purchased a new stake in Valero Energy Corp. during the second quarter worth $176,332,000. Finally, Origin Asset Management LLP boosted its stake 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 worth $28,426,000 after buying an additional 76,006 shares in the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.
Shares of Valero Energy Corp. (NYSE:VLO) traded down 2.48% on Monday, hitting $54.29. The company had a trading volume of 4,827,185 shares. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 8.72 and a beta of 1.97. The company has a 50 day moving average of $55.09 and a 200-day moving average of $56.20.
Valero Energy Corp. (NYSE:VLO) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $16.79 billion. Valero Energy Corp. had a net margin of 3.89% and a return on equity of 14.05%. The firm’s quarterly revenue was down 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.66 earnings per share. On average, analysts forecast that Valero Energy Corp. will post $3.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 11th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.40 annualized dividend and a yield of 4.42%. Valero Energy Corp.’s dividend payout ratio (DPR) is 38.77%.
VLO has been the topic of a number of research reports. Vetr upgraded Valero Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $63.15 price target on the stock in a report on Wednesday, August 31st. Jefferies Group initiated coverage on Valero Energy Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $66.00 price target on the stock. Piper Jaffray Cos. upped their price target on Valero Energy Corp. from $48.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Goldman Sachs Group Inc. reiterated a “top pick” rating on shares of Valero Energy Corp. in a report on Thursday, June 30th. Finally, Zacks Investment Research cut Valero Energy Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, May 30th. Nine research analysts have rated the stock with a hold rating, fourteen have given 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 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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