Valero Energy Co. (VLO) Position Cut by ClariVest Asset Management LLC
ClariVest Asset Management LLC cut its stake in Valero Energy Co. (NYSE:VLO) by 6.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 319,078 shares of the oil and gas company’s stock after selling 21,323 shares during the period. ClariVest Asset Management LLC’s holdings in Valero Energy were worth $36,297,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nicola Wealth Management LTD. raised its holdings in shares of Valero Energy by 122.3% during the third quarter. Nicola Wealth Management LTD. now owns 72,700 shares of the oil and gas company’s stock worth $8,270,000 after purchasing an additional 40,000 shares during the period. MML Investors Services LLC raised its holdings in shares of Valero Energy by 54.4% during the third quarter. MML Investors Services LLC now owns 48,282 shares of the oil and gas company’s stock worth $5,492,000 after purchasing an additional 17,007 shares during the period. Prudential Financial Inc. raised its holdings in shares of Valero Energy by 11.9% during the third quarter. Prudential Financial Inc. now owns 2,218,635 shares of the oil and gas company’s stock worth $252,370,000 after purchasing an additional 236,700 shares during the period. Motco raised its holdings in shares of Valero Energy by 61.8% during the third quarter. Motco now owns 9,491 shares of the oil and gas company’s stock worth $1,080,000 after purchasing an additional 3,624 shares during the period. Finally, United Asset Strategies Inc. acquired a new stake in shares of Valero Energy during the third quarter worth $557,000. 77.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. ValuEngine cut shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley increased their target price on shares of Valero Energy from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. Mizuho assumed coverage on shares of Valero Energy in a report on Wednesday, August 1st. They set a “neutral” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Valero Energy from $128.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, Citigroup increased their target price on shares of Valero Energy from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $115.82.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $31.82 billion. Valero Energy had a net margin of 3.96% and a return on equity of 11.90%. Equities research analysts predict that Valero Energy Co. will post 6.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, November 19th. This represents a $3.20 annualized dividend and a dividend yield of 3.83%. Valero Energy’s dividend payout ratio is currently 64.52%.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
Featured Article: Is the Dow Jones Industrial Average (DJIA) still relevant?
Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLO).
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.