CIBC Asset Management Inc trimmed its holdings in Valero Energy Co. (NYSE:VLO) by 3.2% during the second quarter, HoldingsChannel reports. The firm owned 56,974 shares of the oil and gas company’s stock after selling 1,866 shares during the period. CIBC Asset Management Inc’s holdings in Valero Energy were worth $4,878,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Advisory Alpha LLC acquired a new stake in shares of Valero Energy during the 1st quarter worth approximately $27,000. Archford Capital Strategies LLC increased its holdings in shares of Valero Energy by 122.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 363 shares of the oil and gas company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new stake in shares of Valero Energy during the 1st quarter worth approximately $36,000. NuWave Investment Management LLC increased its holdings in shares of Valero Energy by 1,107.7% during the 2nd quarter. NuWave Investment Management LLC now owns 471 shares of the oil and gas company’s stock worth $40,000 after buying an additional 432 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new stake in shares of Valero Energy during the 2nd quarter worth approximately $40,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.
Valero Energy stock opened at $78.40 on Thursday. Valero Energy Co. has a fifty-two week low of $68.81 and a fifty-two week high of $122.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a 50 day moving average price of $81.60 and a 200 day moving average price of $82.77. The company has a market capitalization of $32.37 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.48.
Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.14. Valero Energy had a net margin of 2.27% and a return on equity of 11.31%. The firm had revenue of $28.93 billion during the quarter, compared to the consensus estimate of $25.45 billion. During the same quarter last year, the firm earned $2.15 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts forecast that Valero Energy Co. will post 5.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 6th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.60 annualized dividend and a yield of 4.59%. Valero Energy’s dividend payout ratio (DPR) is presently 48.85%.
A number of analysts have recently issued reports on VLO shares. Raymond James raised their price target on shares of Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wells Fargo & Co set a $107.00 price target on shares of Valero Energy and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upgraded shares of Valero Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $102.00 to $105.00 in a report on Tuesday, May 14th. Goldman Sachs Group upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and cut their price target for the stock from $96.00 to $92.00 in a report on Thursday, June 6th. Finally, Royal Bank of Canada set a $98.00 price target on shares of Valero Energy and gave the stock a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $105.47.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
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