Pinnacle Associates Ltd. acquires 267 shares of Valero Energy Co. (NYSE:VLO)

Pinnacle Associates Ltd. grew its holdings in Valero Energy Co. (NYSE:VLO – Free Report) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,959 shares of the oil and gas company’s stock after acquiring an additional 267 shares during the period. Pinnacle Associates Ltd.’s holdings in Valero Energy were worth $11,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MGO One Seven LLC boosted its holdings in shares of Valero Energy by 198.8% during the fourth quarter. MGO One Seven LLC now owns 16,605 shares of the oil and gas company’s stock worth $2,159,000 after buying an additional 11,047 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Valero Energy by 214.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,475 shares of the oil and gas company’s stock valued at $1,882,000 after acquiring an additional 9,871 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Valero Energy in the second quarter valued at $15,945,000. Choreo LLC grew its holdings in shares of Valero Energy by 188.0% during the 4th quarter. Choreo LLC now owns 5,541 shares of the oil and gas company’s stock worth $720,000 after buying an additional 3,617 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Valero Energy by 62.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 13,586 shares of the oil and gas company’s stock worth $1,766,000 after buying an additional 5,209 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s shares.

Valero Energy Stock Up 3.5%

Shares of NYSE VLO opened at $146.73 on Friday. The company has a 50-day simple moving average of $150.21 and a 200-day simple moving average of $155.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48, and a quick ratio of 1.04. Valero Energy Co. has a one year low of $119.88 and a one year high of $184.79. The firm has a market cap of $47.01 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 2.85 and a beta of 1.42.

Valero Energy (NYSE:VLO – Get Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The company had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. Valero Energy’s revenue was down 0.1% compared to the same quarter last year. In the same quarter last year, the company earned $5.40 per share. On average, research analysts expect that Valero Energy Co. will post 12.86 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a $1.07 dividend. The ex-dividend date is Thursday, August 1. This represents an annualized dividend of $4.28 and a dividend yield of 2.92%. Valero Energy’s payout ratio is 21.20%.

Changes in Analyst Ratings

Several equities research analysts recently weighed in on VLO shares. Scotiabank boosted their price objective on shares of Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Argus cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Mizuho upgraded shares of Valero Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $165.00 to $175.00 in a research report on Wednesday, 17 July. Barclays cut their price target on Valero Energy from $171.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, StockNews.com lowered Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.00, according to MarketBeat.com.

Get the latest analysis on Valero Energy

Valero Energy Company Profile

(Free report)

Valero Energy Corporation manufactures, markets and sells petroleum-based and low-carbon liquid transportation fuels and petrochemicals in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru and internationally. It operates through three segments: refining, renewable diesel and ethanol.

See Also

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