State Board of Administration of Florida Retirement System Cuts Stock Position in Valero Energy Co. (NYSE:VLO)

State Board of Administration of Florida Retirement System lowered its position in Valero Energy Co. (NYSE:VLO) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 551,436 shares of the oil and gas company’s stock after selling 24,943 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Valero Energy worth $43,056,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of VLO. Bank of New York Mellon Corp grew its position in shares of Valero Energy by 24.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,065,896 shares of the oil and gas company’s stock worth $577,518,000 after buying an additional 1,558,584 shares during the last quarter. BlackRock Inc. grew its position in Valero Energy by 3.9% during the 1st quarter. BlackRock Inc. now owns 35,633,200 shares of the oil and gas company’s stock worth $2,551,339,000 after purchasing an additional 1,347,922 shares during the last quarter. Primecap Management Co. CA grew its position in Valero Energy by 184.6% during the 1st quarter. Primecap Management Co. CA now owns 1,042,900 shares of the oil and gas company’s stock worth $74,672,000 after purchasing an additional 676,459 shares during the last quarter. APG Asset Management N.V. grew its position in Valero Energy by 118.0% during the 1st quarter. APG Asset Management N.V. now owns 1,102,877 shares of the oil and gas company’s stock worth $67,188,000 after purchasing an additional 597,085 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in Valero Energy by 897.2% during the 1st quarter. Voloridge Investment Management LLC now owns 410,036 shares of the oil and gas company’s stock worth $29,359,000 after purchasing an additional 368,918 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

VLO has been the topic of several research analyst reports. Raymond James dropped their target price on shares of Valero Energy from $100.00 to $88.00 and set a “strong-buy” rating on the stock in a research report on Friday, July 30th. Morgan Stanley initiated coverage on shares of Valero Energy in a research report on Tuesday, September 7th. They set an “overweight” rating and a $80.00 target price on the stock. Citigroup dropped their target price on shares of Valero Energy from $101.00 to $79.00 and set a “buy” rating on the stock in a research report on Thursday, August 26th. They noted that the move was a valuation call. Barclays boosted their target price on shares of Valero Energy from $84.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Valero Energy from $99.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $84.07.

VLO opened at $64.70 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.93. The firm has a fifty day moving average price of $65.74 and a 200 day moving average price of $73.12. Valero Energy Co. has a 1 year low of $35.44 and a 1 year high of $84.95. The stock has a market cap of $26.45 billion, a P/E ratio of -19.26, a P/E/G ratio of 57.32 and a beta of 2.15.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 29th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.33. Valero Energy had a negative net margin of 1.69% and a negative return on equity of 7.31%. The business had revenue of $27.75 billion during the quarter, compared to analyst estimates of $22.66 billion. Equities analysts expect that Valero Energy Co. will post 0.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 5th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend was Wednesday, August 4th. Valero Energy’s payout ratio is -125.64%.

Valero Energy Company Profile

Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations.

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Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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