Sowell Financial Services LLC increased its stake in shares of Valero Energy Co. (NYSE:VLO) by 16.1% in the 3rd quarter, Holdings Channel reports. The firm owned 9,113 shares of the oil and gas company’s stock after buying an additional 1,267 shares during the period. Sowell Financial Services LLC’s holdings in Valero Energy were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. Truvestments Capital LLC purchased a new position in shares of Valero Energy during the third quarter valued at approximately $101,000. Reilly Financial Advisors LLC raised its holdings in shares of Valero Energy by 1,164.4% during the third quarter. Reilly Financial Advisors LLC now owns 1,315 shares of the oil and gas company’s stock valued at $150,000 after purchasing an additional 1,211 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of Valero Energy by 68.1% during the third quarter. Gradient Investments LLC now owns 1,353 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 548 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Valero Energy during the second quarter valued at approximately $161,000. Finally, Mainstay Capital Management LLC ADV purchased a new position in shares of Valero Energy during the second quarter valued at approximately $166,000. 77.72% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on VLO. ValuEngine cut shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Citigroup boosted their price objective on shares of Valero Energy from $125.00 to $134.00 and gave the company a “buy” rating in a report on Friday, September 7th. Tudor Pickering cut shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Morgan Stanley set a $145.00 price objective on shares of Valero Energy and gave the company a “buy” rating in a report on Friday, October 12th. Finally, Standpoint Research upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Valero Energy presently has a consensus rating of “Buy” and an average price target of $116.80.
Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 25th. The oil and gas company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The company 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 anticipate that Valero Energy Co. will post 6.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Tuesday, November 20th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.01%. Valero Energy’s payout ratio is currently 64.52%.
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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