Boston Private Wealth LLC Acquires 7,719 Shares of Valero Energy Corporation (VLO)
Boston Private Wealth LLC raised its position in shares of Valero Energy Corporation (NYSE:VLO) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,058 shares of the oil and gas company’s stock after buying an additional 7,719 shares during the period. Boston Private Wealth LLC’s holdings in Valero Energy Corporation were worth $8,032,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Valero Energy Corporation by 2,578.1% in the first quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock worth $2,533,433,000 after buying an additional 36,790,343 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of Valero Energy Corporation by 6,236.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,226,760 shares of the oil and gas company’s stock worth $18,185,000 after buying an additional 1,207,400 shares during the period. Vanguard Group Inc. raised its stake in shares of Valero Energy Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 33,405,279 shares of the oil and gas company’s stock worth $2,214,436,000 after buying an additional 827,661 shares during the period. Stifel Financial Corp raised its stake in shares of 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 period. Finally, LSV Asset Management raised its stake in shares of 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 period. Institutional investors and hedge funds own 78.88% of the company’s stock.
Shares of Valero Energy Corporation (NYSE VLO) opened at 67.67 on Friday. Valero Energy Corporation has a 12-month low of $51.17 and a 12-month high of $71.40. The firm’s 50-day moving average is $67.32 and its 200 day moving average is $66.12. The stock has a market capitalization of $29.89 billion, a P/E ratio of 16.70 and a beta of 1.21. Valero Energy Corporation also was the recipient of unusually large options trading on Thursday. Traders bought 10,566 put options on the stock. This is an increase of 224% compared to the average volume of 3,262 put options.
Valero Energy Corporation (NYSE:VLO) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. The firm had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. Valero Energy Corporation’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. On average, equities research analysts forecast that Valero Energy Corporation will post $4.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.14%. The ex-dividend date is Monday, August 7th. Valero Energy Corporation’s dividend payout ratio (DPR) is 69.14%.
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A number of equities analysts have issued reports on the stock. Credit Suisse Group reaffirmed a “hold” rating and set a $65.00 price objective on shares of Valero Energy Corporation in a report on Wednesday, June 21st. Morgan Stanley downgraded shares of Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $77.00 to $70.00 in a report on Tuesday, May 30th. BidaskClub raised shares of Valero Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) downgraded shares of Valero Energy Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $65.55 to $73.00 in a report on Tuesday, May 16th. Finally, Scotiabank set a $70.00 price objective on shares of Valero Energy Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $72.62.
In related news, Director Susan Kaufman Purcell sold 5,151 shares of the firm’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 sale, the director now directly owns 9,866 shares of the company’s stock, valued at $638,132.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.45% of the stock is owned by company insiders.
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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