Cadence Capital Management LLC Buys 42,219 Shares of Valero Energy Corporation (VLO)
Cadence Capital Management LLC increased its position in shares of Valero Energy Corporation (NYSE:VLO) by 31.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,371 shares of the oil and gas company’s stock after buying an additional 42,219 shares during the period. Valero Energy Corporation comprises 0.8% of Cadence Capital Management LLC’s holdings, making the stock its 23rd largest position. Cadence Capital Management LLC’s holdings in Valero Energy Corporation were worth $11,831,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Waldron LP raised its stake in Valero Energy Corporation by 45.7% in the first quarter. Waldron LP now owns 8,455 shares of the oil and gas company’s stock worth $560,000 after buying an additional 2,650 shares during the period. IFC Holdings Incorporated FL raised its stake in Valero Energy Corporation by 43.7% in the first quarter. IFC Holdings Incorporated FL now owns 13,180 shares of the oil and gas company’s stock worth $874,000 after buying an additional 4,009 shares during the period. Harwood Advisory Group LLC raised its stake in Valero Energy Corporation by 10.3% in the first quarter. Harwood Advisory Group LLC now owns 29,687 shares of the oil and gas company’s stock worth $1,968,000 after buying an additional 2,765 shares during the period. Korea Investment CORP raised its stake in Valero Energy Corporation by 33.9% in the first quarter. Korea Investment CORP now owns 805,769 shares of the oil and gas company’s stock worth $53,414,000 after buying an additional 203,925 shares during the period. Finally, ProShare Advisors LLC raised its stake in Valero Energy Corporation by 4.3% in the first quarter. ProShare Advisors LLC now owns 104,302 shares of the oil and gas company’s stock worth $6,914,000 after buying an additional 4,340 shares during the period. 78.88% of the stock is owned by institutional investors.
Valero Energy Corporation (VLO) opened at 67.67 on Friday. Valero Energy Corporation has a 12 month low of $51.17 and a 12 month high of $71.40. The stock has a 50 day moving average price of $67.32 and a 200 day moving average price of $66.12. The company has a market cap of $29.89 billion, a price-to-earnings ratio of 16.70 and a beta of 1.21. Valero Energy Corporation also saw some unusual options trading activity on Thursday. Stock investors bought 10,566 put options on the stock. This is an increase of approximately 224% compared to the typical volume of 3,262 put options.
Valero Energy Corporation (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period last year, the business earned $1.07 EPS. The company’s revenue was up 13.6% on a year-over-year basis. Analysts anticipate that Valero Energy Corporation will post $4.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.14%. Valero Energy Corporation’s payout ratio is 69.14%.
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A number of equities research analysts have recently weighed in on VLO shares. Goldman Sachs Group, Inc. (The) lowered Valero Energy Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the company from $65.55 to $73.00 in a research note on Tuesday, May 16th. US Capital Advisors reaffirmed an “overweight” rating on shares of Valero Energy Corporation in a research report on Monday, May 22nd. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Valero Energy Corporation in a research report on Thursday, May 25th. Morgan Stanley lowered Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $77.00 to $70.00 in a research report on Tuesday, May 30th. Finally, ValuEngine raised Valero Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $72.62.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total value of $333,166.68. Following the sale, the director now directly owns 9,866 shares in the company, valued at approximately $638,132.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.45% of the stock is currently owned by company insiders.
Valero Energy Corporation Company Profile
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.
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