Spirit of America Management Corp NY cut its stake in Valero Energy Co. (NYSE:VLO) by 5.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,944 shares of the oil and gas company’s stock after selling 6,570 shares during the period. Valero Energy accounts for about 1.5% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 18th biggest position. Spirit of America Management Corp NY’s holdings in Valero Energy were worth $10,012,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its holdings in Valero Energy by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 18,834 shares of the oil and gas company’s stock valued at $1,412,000 after acquiring an additional 332 shares during the period. Macquarie Group Ltd. boosted its holdings in Valero Energy by 519.6% during the 4th quarter. Macquarie Group Ltd. now owns 168,781 shares of the oil and gas company’s stock valued at $12,654,000 after acquiring an additional 141,541 shares during the period. Millennium Management LLC boosted its holdings in Valero Energy by 125.1% during the 4th quarter. Millennium Management LLC now owns 22,233 shares of the oil and gas company’s stock valued at $1,667,000 after acquiring an additional 110,674 shares during the period. Lake Point Wealth Management purchased a new stake in shares of Valero Energy in the 4th quarter worth $117,000. Finally, CWM Advisors LLC lifted its holdings in shares of Valero Energy by 40.1% in the 4th quarter. CWM Advisors LLC now owns 3,910 shares of the oil and gas company’s stock worth $293,000 after buying an additional 1,119 shares during the period. 77.21% of the stock is owned by institutional investors.
VLO has been the subject of several recent research reports. Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $96.00 to $92.00 in a research report on Thursday, June 6th. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Raymond James increased their price objective on Valero Energy from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Morgan Stanley increased their price objective on Valero Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised Valero Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $102.00 to $105.00 in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $105.47.NYSE VLO opened at $78.85 on Monday. The stock has a market capitalization of $32.86 billion, a P/E ratio of 10.70, a PEG ratio of 1.84 and a beta of 1.48. The firm has a 50 day moving average price of $82.83. Valero Energy Co. has a 1-year low of $68.81 and a 1-year 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.
Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.14. The firm had revenue of $28.93 billion during the quarter, compared to analyst estimates of $25.45 billion. Valero Energy had a return on equity of 11.31% and a net margin of 2.27%. Valero Energy’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $2.15 earnings per share. Research analysts forecast that Valero Energy Co. will post 5.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 6th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, August 5th. Valero Energy’s dividend payout ratio (DPR) is presently 48.85%.
Valero Energy Company Profile
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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