First Citizens Bank & Trust Co. Raises Holdings in Valero Energy Co. (VLO)

First Citizens Bank & Trust Co. raised its position in shares of Valero Energy Co. (NYSE:VLO) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,525 shares of the oil and gas company’s stock after purchasing an additional 868 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Valero Energy were worth $4,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Financial Partners Inc. lifted its position in shares of Valero Energy by 0.7% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 59,162 shares of the oil and gas company’s stock valued at $6,557,000 after acquiring an additional 434 shares during the last quarter. Allen Capital Group LLC lifted its position in shares of Valero Energy by 5.1% during the 2nd quarter. Allen Capital Group LLC now owns 9,051 shares of the oil and gas company’s stock valued at $1,003,000 after acquiring an additional 436 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Valero Energy by 4.7% during the 2nd quarter. Sigma Planning Corp now owns 10,106 shares of the oil and gas company’s stock valued at $1,120,000 after acquiring an additional 457 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Valero Energy by 2.3% during the 1st quarter. United Capital Financial Advisers LLC now owns 20,326 shares of the oil and gas company’s stock valued at $1,886,000 after acquiring an additional 458 shares during the last quarter. Finally, ACG Wealth lifted its position in shares of Valero Energy by 13.3% during the 2nd quarter. ACG Wealth now owns 4,076 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 477 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

VLO opened at $103.39 on Friday. The firm has a market capitalization of $48.62 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.03. Valero Energy Co. has a 12-month low of $75.84 and a 12-month high of $126.98. The company has a quick ratio of 1.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.17. Valero Energy had a return on equity of 12.06% and a net margin of 4.21%. The business had revenue of $31.02 billion during the quarter, compared to analyst estimates of $26.56 billion. During the same period last year, the company earned $1.23 earnings per share. Valero Energy’s quarterly revenue was up 39.4% compared to the same quarter last year. Sell-side analysts anticipate that Valero Energy Co. will post 6.44 EPS for the current fiscal year.

In related news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $116.76, for a total transaction of $116,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

VLO has been the subject of a number of recent research reports. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Citigroup increased their target price on Valero Energy from $125.00 to $134.00 and gave the company a “buy” rating in a report on Friday, September 7th. Standpoint Research upgraded Valero Energy from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Morgan Stanley set a $145.00 target price on Valero Energy and gave the company a “buy” rating in a report on Friday, October 12th. Finally, Tudor Pickering lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $116.18.

Valero Energy 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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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