Valero Energy Corporation (VLO) Shares Bought by Cincinnati Financial Corp
Cincinnati Financial Corp raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 28.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 351,940 shares of the oil and gas company’s stock after buying an additional 77,240 shares during the period. Cincinnati Financial Corp owned about 0.08% of Valero Energy Corporation worth $23,742,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Independent Portfolio Consultants Inc. boosted its position in Valero Energy Corporation by 62.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,614 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 619 shares during the period. First Personal Financial Services boosted its position in Valero Energy Corporation by 13.6% in the second quarter. First Personal Financial Services now owns 1,636 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 196 shares during the period. Guardian Life Insurance Co. of America boosted its position in Valero Energy Corporation by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 11 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Valero Energy Corporation during the first quarter valued at about $127,000. Finally, Sandy Spring Bank boosted its position in Valero Energy Corporation by 96.9% in the first quarter. Sandy Spring Bank now owns 2,712 shares of the oil and gas company’s stock valued at $179,000 after buying an additional 1,335 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Valero Energy Corporation (NYSE:VLO) opened at 68.10 on Friday. The firm has a 50-day moving average price of $67.33 and a 200 day moving average price of $66.16. The company has a market capitalization of $30.08 billion, a P/E ratio of 16.81 and a beta of 1.21. Valero Energy Corporation has a 12-month low of $51.17 and a 12-month high of $71.40.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The business had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period last year, the business posted $1.07 EPS. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities research analysts predict that Valero Energy Corporation will post $4.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.11%. Valero Energy Corporation’s payout ratio is 69.14%.
Several equities research analysts recently weighed in on VLO shares. Citigroup Inc. reduced their price target on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, July 17th. BidaskClub raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Morgan Stanley cut Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $77.00 to $70.00 in a research note on Tuesday, May 30th. ValuEngine raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, US Capital Advisors cut Valero Energy Corporation from an “overweight” rating to a “hold” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.56.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total value of $333,166.68. Following the completion of the sale, the director now owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is owned by company 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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