Hartford Investment Management Co. Sells 8,430 Shares of Valero Energy Co. (VLO)
Hartford Investment Management Co. reduced its stake in shares of Valero Energy Co. (NYSE:VLO) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,096 shares of the oil and gas company’s stock after selling 8,430 shares during the quarter. Hartford Investment Management Co.’s holdings in Valero Energy were worth $7,405,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Xact Kapitalforvaltning AB grew its stake in Valero Energy by 11.7% during the second quarter. Xact Kapitalforvaltning AB now owns 55,345 shares of the oil and gas company’s stock valued at $6,134,000 after acquiring an additional 5,781 shares in the last quarter. Reliance Trust Co. of Delaware purchased a new position in Valero Energy during the second quarter valued at $386,000. Assenagon Asset Management S.A. grew its stake in Valero Energy by 4,015.2% during the second quarter. Assenagon Asset Management S.A. now owns 111,358 shares of the oil and gas company’s stock valued at $12,342,000 after acquiring an additional 108,652 shares in the last quarter. Calamos Advisors LLC grew its stake in Valero Energy by 12.7% during the second quarter. Calamos Advisors LLC now owns 65,384 shares of the oil and gas company’s stock valued at $7,247,000 after acquiring an additional 7,354 shares in the last quarter. Finally, Pendal Group Ltd grew its stake in Valero Energy by 366.1% during the second quarter. Pendal Group Ltd now owns 213,976 shares of the oil and gas company’s stock valued at $23,715,000 after acquiring an additional 168,065 shares in the last quarter. Hedge funds and other institutional investors own 77.96% of the company’s stock.
VLO has been the subject of several research analyst reports. ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Valero Energy from $128.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Morgan Stanley lifted their price objective on shares of Valero Energy from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 31st. Mizuho assumed coverage on shares of Valero Energy in a research note on Wednesday, August 1st. They issued a “neutral” rating and a $125.00 price objective for the company. Finally, Citigroup lifted their price objective on shares of Valero Energy from $125.00 to $134.00 and gave the stock a “buy” rating in a research note 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $115.82.
Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 25th. The oil and gas company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.06. The firm 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%. Research analysts forecast that Valero Energy Co. will post 6.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Tuesday, November 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.20 annualized dividend and a dividend yield of 3.87%. Valero Energy’s dividend payout ratio (DPR) is presently 64.52%.
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Valero Energy Company Profile
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.
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