Fifth Third Bancorp Purchases 120,492 Shares of Valero Energy Corporation (VLO)
Fifth Third Bancorp increased its stake in shares of Valero Energy Corporation (NYSE:VLO) by 745.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,653 shares of the oil and gas company’s stock after buying an additional 120,492 shares during the period. Fifth Third Bancorp’s holdings in Valero Energy Corporation were worth $9,059,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Valero Energy Corporation during the fourth quarter worth $370,542,000. Stifel Financial Corp raised its stake in Valero Energy Corporation by 133.7% in the first quarter. Stifel Financial Corp now owns 1,340,904 shares of the oil and gas company’s stock worth $88,895,000 after buying an additional 767,150 shares during the last quarter. LSV Asset Management raised its stake in Valero Energy Corporation by 6.3% in the first quarter. LSV Asset Management now owns 8,710,850 shares of the oil and gas company’s stock worth $577,442,000 after buying an additional 514,850 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Valero Energy Corporation by 34.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,914,732 shares of the oil and gas company’s stock worth $126,928,000 after buying an additional 485,868 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Valero Energy Corporation by 18.9% in the first quarter. Prudential Financial Inc. now owns 2,938,747 shares of the oil and gas company’s stock worth $194,810,000 after buying an additional 468,000 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.
Shares of Valero Energy Corporation (NYSE:VLO) traded up 0.25% during midday trading on Monday, hitting $68.00. The company had a trading volume of 2,671,861 shares. Valero Energy Corporation has a one year low of $51.17 and a one year high of $71.40. The company’s 50 day moving average is $67.10 and its 200 day moving average is $66.09. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 16.81 and a beta of 1.21.
Valero Energy Corporation (NYSE:VLO) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. The company had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. Valero Energy Corporation had a return on equity of 8.58% and a net margin of 2.17%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. Equities analysts forecast that Valero Energy Corporation will post $4.00 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 4.12%. Valero Energy Corporation’s dividend payout ratio (DPR) is presently 69.14%.
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A number of equities analysts recently issued reports on the company. BidaskClub raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Citigroup Inc. lowered their price target on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 17th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Valero Energy Corporation in a report on Wednesday, April 26th. Morgan Stanley downgraded Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $77.00 to $70.00 in a report on Tuesday, May 30th. Finally, ValuEngine raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Valero Energy Corporation has an average rating of “Buy” and an average price target of $71.59.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total transaction of $333,166.68. Following the completion of the sale, the director now owns 9,866 shares in the company, valued at approximately $638,132.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.
About Valero Energy Corporation
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
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