American Trust cut its holdings in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,076 shares of the oil and gas company’s stock after selling 1,035 shares during the quarter. American Trust’s holdings in Valero Energy were worth $617,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Valero Energy by 87.8% during the 4th quarter. Acadian Asset Management LLC now owns 5,083 shares of the oil and gas company’s stock valued at $381,000 after buying an additional 2,377 shares during the last quarter. Equitable Holdings Inc. lifted its holdings in shares of Valero Energy by 9.3% during the 4th quarter. Equitable Holdings Inc. now owns 8,759 shares of the oil and gas company’s stock valued at $658,000 after buying an additional 745 shares during the last quarter. MAI Capital Management lifted its holdings in shares of Valero Energy by 39.5% during the 4th quarter. MAI Capital Management now owns 6,605 shares of the oil and gas company’s stock valued at $496,000 after buying an additional 1,869 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Valero Energy by 122.0% during the 4th quarter. Renaissance Technologies LLC now owns 829,503 shares of the oil and gas company’s stock valued at $62,304,000 after buying an additional 455,915 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Valero Energy by 81.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 144,551 shares of the oil and gas company’s stock valued at $10,857,000 after buying an additional 64,751 shares during the last quarter. 79.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently weighed in on VLO shares. Morgan Stanley boosted their target price on Valero Energy from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, July 15th. Wells Fargo & Company boosted their target price on Valero Energy from $136.00 to $166.00 and gave the stock an “overweight” rating in a report on Tuesday, June 14th. Redburn Partners lowered Valero Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, June 1st. Credit Suisse Group boosted their target price on Valero Energy to $145.00 in a report on Thursday, June 9th. Finally, Barclays boosted their target price on Valero Energy from $133.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Valero Energy has a consensus rating of “Buy” and a consensus target price of $132.08.
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The oil and gas company reported $11.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $5.03. The business had revenue of $51.64 billion for the quarter, compared to analysts’ expectations of $40.73 billion. Valero Energy had a return on equity of 34.65% and a net margin of 4.54%. Valero Energy’s quarterly revenue was up 86.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. Sell-side analysts forecast that Valero Energy Co. will post 27.5 EPS for the current year.
Valero Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 4th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Wednesday, August 3rd. Valero Energy’s dividend payout ratio is presently 22.57%.
About Valero Energy
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.
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