Kiwi Wealth Investments Limited Partnership lowered its holdings in shares of Valero Energy Co. (NYSE:VLO) by 23.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,659 shares of the oil and gas company’s stock after selling 12,139 shares during the quarter. Kiwi Wealth Investments Limited Partnership’s holdings in Valero Energy were worth $4,395,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in VLO. Global X Management Co. LLC increased its stake in Valero Energy by 7.3% in the 1st quarter. Global X Management Co. LLC now owns 9,304 shares of the oil and gas company’s stock worth $863,000 after buying an additional 633 shares during the period. Trexquant Investment LP purchased a new position in Valero Energy in the 1st quarter worth about $850,000. American Century Companies Inc. increased its stake in Valero Energy by 0.6% in the 1st quarter. American Century Companies Inc. now owns 337,067 shares of the oil and gas company’s stock worth $31,270,000 after buying an additional 1,918 shares during the period. Victory Capital Management Inc. increased its stake in Valero Energy by 22.4% in the 1st quarter. Victory Capital Management Inc. now owns 280,037 shares of the oil and gas company’s stock worth $25,979,000 after buying an additional 51,212 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Valero Energy by 6.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,033 shares of the oil and gas company’s stock worth $1,302,000 after buying an additional 874 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.
In other news, Director Stephen M. Waters sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $116.76, for a total value of $116,760.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by company insiders.
Several research firms recently commented on VLO. Credit Suisse Group raised their price target on shares of Valero Energy from $118.00 to $135.00 and gave the stock a “neutral” rating in a research note on Monday, June 4th. ValuEngine downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. Wells Fargo & Co raised their target price on shares of Valero Energy from $122.00 to $146.00 and gave the company a “positive” rating in a research report on Tuesday, May 29th. Finally, Morgan Stanley raised their target price on shares of Valero Energy from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, July 31st. Fourteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $116.59.
NYSE VLO traded up $0.30 during trading on Friday, reaching $117.13. 1,668,926 shares of the company’s stock traded hands, compared to its average volume of 2,558,364. Valero Energy Co. has a 12-month low of $69.98 and a 12-month high of $126.98. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.10 and a current ratio of 1.67.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.17. Valero Energy had a net margin of 4.21% and a return on equity of 12.06%. The business had revenue of $31.02 billion for the quarter, compared to analysts’ expectations of $26.56 billion. During the same period last year, the business earned $1.23 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. equities analysts expect that Valero Energy Co. will post 6.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 7th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, August 6th. Valero Energy’s dividend payout ratio is currently 64.52%.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. 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. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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