Pinnacle Wealth Management Advisory Group LLC purchased a new position in Valero Energy Co. (NYSE:VLO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,020 shares of the oil and gas company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors have also modified their holdings of VLO. Bank of New York Mellon Corp grew its holdings in shares of Valero Energy by 24.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,065,896 shares of the oil and gas company’s stock worth $577,518,000 after purchasing an additional 1,558,584 shares in the last quarter. BlackRock Inc. boosted its stake in Valero Energy by 3.9% in the 1st quarter. BlackRock Inc. now owns 35,633,200 shares of the oil and gas company’s stock valued at $2,551,339,000 after buying an additional 1,347,922 shares in the last quarter. Primecap Management Co. CA boosted its stake in Valero Energy by 184.6% in the 1st quarter. Primecap Management Co. CA now owns 1,042,900 shares of the oil and gas company’s stock valued at $74,672,000 after buying an additional 676,459 shares in the last quarter. APG Asset Management N.V. boosted its stake in Valero Energy by 118.0% in the 1st quarter. APG Asset Management N.V. now owns 1,102,877 shares of the oil and gas company’s stock valued at $67,188,000 after buying an additional 597,085 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in Valero Energy by 897.2% in the 1st quarter. Voloridge Investment Management LLC now owns 410,036 shares of the oil and gas company’s stock valued at $29,359,000 after buying an additional 368,918 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors.
Several brokerages recently commented on VLO. Barclays boosted their price target on Valero Energy from $84.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, June 29th. Morgan Stanley began coverage on Valero Energy in a research note on Tuesday, September 7th. They issued an “overweight” rating and a $80.00 price target on the stock. decreased their price target on Valero Energy from $121.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, June 9th. Zacks Investment Research raised Valero Energy from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, September 8th. Finally, Wells Fargo & Company boosted their price objective on Valero Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, June 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy presently has a consensus rating of “Buy” and a consensus price target of $84.07.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.33. The business had revenue of $27.75 billion during the quarter, compared to the consensus estimate of $22.66 billion. Valero Energy had a negative return on equity of 7.31% and a negative net margin of 1.69%. As a group, equities research analysts anticipate that Valero Energy Co. will post 0.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Thursday, August 5th were issued a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $3.92 dividend on an annualized basis and a yield of 6.06%. Valero Energy’s dividend payout ratio is presently -125.64%.
Valero Energy Company Profile
Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations.
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