Gradient Investments LLC trimmed its stake in shares of Valero Energy Co. (NYSE:VLO – Get Rating) by 28.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,992 shares of the oil and gas company’s stock after selling 1,593 shares during the quarter. Gradient Investments LLC’s holdings in Valero Energy were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Valero Energy by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 47,955,666 shares of the oil and gas company’s stock worth $4,869,418,000 after acquiring an additional 1,499,939 shares during the last quarter. BlackRock Inc. grew its position in shares of Valero Energy by 4.3% in the 4th quarter. BlackRock Inc. now owns 37,549,543 shares of the oil and gas company’s stock worth $2,820,347,000 after buying an additional 1,536,457 shares during the last quarter. State Street Corp lifted its stake in shares of Valero Energy by 0.9% in the 1st quarter. State Street Corp now owns 28,640,713 shares of the oil and gas company’s stock valued at $2,908,178,000 after purchasing an additional 245,612 shares during the period. Geode Capital Management LLC lifted its stake in shares of Valero Energy by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 7,675,499 shares of the oil and gas company’s stock valued at $575,161,000 after purchasing an additional 428,672 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Valero Energy by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 7,642,838 shares of the oil and gas company’s stock valued at $776,055,000 after purchasing an additional 1,296,547 shares during the period. 79.78% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
VLO has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Valero Energy from $136.00 to $166.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Credit Suisse Group raised their target price on Valero Energy to $145.00 in a research note on Thursday, June 9th. Piper Sandler lowered their target price on Valero Energy from $150.00 to $148.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. Morgan Stanley raised their target price on Valero Energy from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, July 15th. Finally, StockNews.com upgraded Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 5th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $132.08.
Valero Energy Stock Up 0.2 %
Valero Energy (NYSE:VLO – Get Rating) last posted its earnings results on Thursday, July 28th. The oil and gas company reported $11.36 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $5.03. The business had revenue of $51.64 billion during the quarter, compared to analyst estimates of $40.73 billion. Valero Energy had a return on equity of 34.65% and a net margin of 4.54%. The company’s quarterly revenue was up 86.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Equities analysts predict that Valero Energy Co. will post 27.5 EPS for the current fiscal year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th were issued a $0.98 dividend. 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 payout ratio is 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.
- Get a free copy of the StockNews.com research report on Valero Energy (VLO)
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