Valero Energy Corporation (NYSE:VLO) Stake Cut by BB&T Securities LLC

BB&T Securities LLC cut its stake in shares of Valero Energy Corporation (NYSE:VLO) by 11.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,313 shares of the oil and gas company’s stock after selling 3,612 shares during the period. BB&T Securities LLC’s holdings in Valero Energy Corporation were worth $1,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. LBA Wealth Management LLC boosted its stake in shares of Valero Energy Corporation by 0.6% in the first quarter. LBA Wealth Management LLC now owns 13,198 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 75 shares during the last quarter. Lee Danner & Bass Inc. boosted its stake in shares of Valero Energy Corporation by 30.0% in the first quarter. Lee Danner & Bass Inc. now owns 14,529 shares of the oil and gas company’s stock valued at $963,000 after buying an additional 3,350 shares during the last quarter. Parkwood LLC boosted its stake in shares of Valero Energy Corporation by 48.6% in the first quarter. Parkwood LLC now owns 51,857 shares of the oil and gas company’s stock valued at $3,438,000 after buying an additional 16,966 shares during the last quarter. Skba Capital Management LLC boosted its stake in shares of Valero Energy Corporation by 56.2% in the first quarter. Skba Capital Management LLC now owns 221,600 shares of the oil and gas company’s stock valued at $14,690,000 after buying an additional 79,700 shares during the last quarter. Finally, Comerica Securities Inc. boosted its stake in shares of Valero Energy Corporation by 113.7% in the first quarter. Comerica Securities Inc. now owns 16,256 shares of the oil and gas company’s stock valued at $1,078,000 after buying an additional 8,648 shares during the last quarter. Institutional investors and hedge funds own 79.18% of the company’s stock.

Valero Energy Corporation (NYSE VLO) traded down 1.33% during trading on Friday, hitting $66.69. The company had a trading volume of 7,105,643 shares. The company’s 50 day moving average price is $66.91 and its 200-day moving average price is $66.06. Valero Energy Corporation has a 12 month low of $51.17 and a 12 month high of $71.40. The company has a market cap of $30.08 billion, a PE ratio of 16.48 and a beta of 1.22.

Valero Energy Corporation (NYSE:VLO) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.58%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.07 EPS. Equities analysts expect that Valero Energy Corporation will post $4.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 9th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Monday, August 7th. Valero Energy Corporation’s dividend payout ratio is presently 69.14%.

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Several analysts have recently issued reports on VLO shares. Credit Suisse Group reiterated a “hold” rating and issued a $65.00 price objective on shares of Valero Energy Corporation in a research note on Wednesday, June 21st. Standpoint Research began coverage on Valero Energy Corporation in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price objective on the stock. Scotiabank set a $70.00 target price on Valero Energy Corporation and gave the company a “buy” rating in a report on Monday, June 26th. ValuEngine raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada increased their target price on Valero Energy Corporation from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $71.59.

In related news, Director Susan Kaufman Purcell sold 5,151 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total transaction of $333,166.68. Following the completion of the sale, the director now owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.45% of the stock is owned by corporate insiders.

About Valero Energy Corporation

Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.

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

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