CSU Producer Resources Inc. Boosts Stake in Valero Energy Corporation (VLO)
CSU Producer Resources Inc. increased its stake in Valero Energy Corporation (NYSE:VLO) by 72.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,059 shares of the oil and gas company’s stock after buying an additional 10,559 shares during the period. Valero Energy Corporation comprises about 8.4% of CSU Producer Resources Inc.’s holdings, making the stock its 5th largest position. CSU Producer Resources Inc.’s holdings in Valero Energy Corporation were worth $1,690,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of VLO. Cincinnati Insurance Co. bought a new position in Valero Energy Corporation during the second quarter valued at about $8,302,000. Cincinnati Financial Corp raised its position in shares of Valero Energy Corporation by 28.1% in the second quarter. Cincinnati Financial Corp now owns 351,940 shares of the oil and gas company’s stock valued at $23,742,000 after buying an additional 77,240 shares in the last quarter. Brookstone Capital Management raised its position in shares of Valero Energy Corporation by 4.4% in the second quarter. Brookstone Capital Management now owns 86,688 shares of the oil and gas company’s stock valued at $5,848,000 after buying an additional 3,644 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Valero Energy Corporation by 184.0% in the second quarter. Neuberger Berman Group LLC now owns 30,823 shares of the oil and gas company’s stock valued at $2,079,000 after buying an additional 67,523 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Valero Energy Corporation by 30.7% in the second quarter. Pacer Advisors Inc. now owns 31,003 shares of the oil and gas company’s stock valued at $2,091,000 after buying an additional 7,287 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
Shares of Valero Energy Corporation (NYSE:VLO) opened at 68.10 on Friday. The company has a market cap of $30.08 billion, a PE ratio of 16.81 and a beta of 1.21. Valero Energy Corporation has a 1-year low of $51.17 and a 1-year high of $71.40. The firm has a 50-day moving average price of $67.33 and a 200 day moving average price of $66.16.
Valero Energy Corporation (NYSE:VLO) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.15. The company had revenue of $22.25 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, equities analysts anticipate that Valero Energy Corporation will post $4.05 earnings per share for the current 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 given 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 4.11%. Valero Energy Corporation’s payout ratio is 69.14%.
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VLO has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) lowered Valero Energy Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $65.55 to $73.00 in a research report on Tuesday, May 16th. US Capital Advisors reiterated an “overweight” rating on shares of Valero Energy Corporation in a research report on Monday, May 22nd. Piper Jaffray Companies reiterated a “neutral” rating on shares of Valero Energy Corporation in a research report on Thursday, May 25th. Morgan Stanley lowered Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $77.00 to $70.00 in a research report on Tuesday, May 30th. Finally, ValuEngine upgraded Valero Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $72.56.
In related news, Director Susan Kaufman Purcell sold 5,151 shares of Valero Energy Corporation stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total transaction 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 can be accessed through this link. 0.45% of the stock is owned by insiders.
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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