Brave Asset Management Inc. raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 24.7% during the second quarter, Holdings Channel reports. The institutional investor owned 20,929 shares of the oil and gas company’s stock after buying an additional 4,151 shares during the period. Brave Asset Management Inc.’s holdings in Valero Energy Corporation were worth $1,412,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLO. Moody National Bank Trust Division acquired a new stake in Valero Energy Corporation during the first quarter valued at approximately $228,000. Bollard Group LLC raised its stake in Valero Energy Corporation by 9.0% in the first quarter. Bollard Group LLC now owns 100,307 shares of the oil and gas company’s stock valued at $6,649,000 after buying an additional 8,240 shares in the last quarter. Ledyard National Bank raised its stake in Valero Energy Corporation by 2.3% in the first quarter. Ledyard National Bank now owns 37,763 shares of the oil and gas company’s stock valued at $2,503,000 after buying an additional 839 shares in the last quarter. Courier Capital LLC raised its stake in Valero Energy Corporation by 1.0% in the first quarter. Courier Capital LLC now owns 40,612 shares of the oil and gas company’s stock valued at $2,692,000 after buying an additional 385 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Valero Energy Corporation by 12.6% in the first quarter. Nisa Investment Advisors LLC now owns 185,138 shares of the oil and gas company’s stock valued at $12,274,000 after buying an additional 20,740 shares in the last quarter. 78.88% of the stock is owned by institutional investors and hedge funds.

Valero Energy Corporation (NYSE VLO) opened at 66.79 on Tuesday. Valero Energy Corporation has a 1-year low of $51.17 and a 1-year high of $71.40. The firm has a market cap of $29.50 billion, a price-to-earnings ratio of 16.49 and a beta of 1.21. The firm has a 50-day moving average of $67.61 and a 200 day moving average of $66.13.

Valero Energy Corporation (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The firm had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Analysts expect that Valero Energy Corporation will post $4.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, August 7th. Valero Energy Corporation’s payout ratio is currently 69.14%.

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Several research firms recently commented on VLO. BidaskClub lowered shares of Valero Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Scotiabank set a $70.00 target price on shares of Valero Energy Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Citigroup Inc. cut their target price on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Standpoint Research began coverage on shares of Valero Energy Corporation in a research note on Friday, June 30th. They set an “accumulate” rating and a $84.00 target price for the company. Finally, Royal Bank Of Canada increased their target price on shares of Valero Energy Corporation from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Valero Energy Corporation presently has a consensus rating of “Buy” and an average target price of $71.59.

In other Valero Energy Corporation news, Director Susan Kaufman Purcell sold 5,151 shares of Valero Energy Corporation stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total value of $333,166.68. Following the transaction, the director now owns 9,866 shares of the company’s stock, valued at $638,132.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.45% of the company’s stock.

Valero Energy Corporation Company Profile

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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Institutional Ownership by Quarter for Valero Energy Corporation (NYSE:VLO)

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