Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Valero Energy Co. (NYSE:VLO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,020 shares of the oil and gas company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of VLO. Grandview Asset Management LLC purchased a new stake in shares of Valero Energy during the first quarter worth about $64,000. FFT Wealth Management LLC bought a new position in shares of Valero Energy during the second quarter valued at approximately $28,000. Loomis Sayles & Co. L P increased its position in shares of Valero Energy by 55.0% during the first quarter. Loomis Sayles & Co. L P now owns 417 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 148 shares in the last quarter. Harbour Investments Inc. purchased a new stake in Valero Energy in the first quarter worth approximately $31,000. Finally, First Horizon Corp boosted its stake in shares of Valero Energy by 222.2% during the 2nd quarter. First Horizon Corp now owns 464 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.
VLO has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Valero Energy from $91.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. cut their price objective on shares of Valero Energy from $121.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, June 9th. Barclays increased their price objective on shares of Valero Energy from $84.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 29th. Wells Fargo & Company raised their price objective on shares of Valero Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Finally, Citigroup dropped their price target on shares of Valero Energy from $101.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, August 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.07.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the 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. On average, sell-side analysts expect that Valero Energy Co. will post 0.2 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 5th were issued a $0.98 dividend. The ex-dividend date was Wednesday, August 4th. This represents a $3.92 dividend on an annualized basis and a yield of 6.06%. Valero Energy’s dividend payout ratio is currently -125.64%.
About Valero Energy
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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