Glenmede Trust Co. NA Reduces Stake in Valero Energy Co. (VLO)
Glenmede Trust Co. NA trimmed its position in Valero Energy Co. (NYSE:VLO) by 20.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 610,854 shares of the oil and gas company’s stock after selling 155,476 shares during the period. Glenmede Trust Co. NA owned 0.14% of Valero Energy worth $67,701,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kaizen Advisory LLC increased its holdings in Valero Energy by 156.8% in the second quarter. Kaizen Advisory LLC now owns 1,063 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 649 shares during the period. Kiley Juergens Wealth Management LLC acquired a new stake in Valero Energy in the second quarter valued at $117,000. Stelac Advisory Services LLC acquired a new stake in Valero Energy in the second quarter valued at $125,000. Trust Co. of Vermont increased its holdings in Valero Energy by 70.4% in the second quarter. Trust Co. of Vermont now owns 1,452 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 600 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in Valero Energy in the second quarter valued at $161,000. Institutional investors own 78.32% of the company’s stock.
Shares of Valero Energy stock opened at $115.46 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.67 and a quick ratio of 1.10. Valero Energy Co. has a 1-year low of $71.14 and a 1-year high of $126.98. The stock has a market cap of $50.06 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Tuesday, August 7th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, August 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.77%. Valero Energy’s payout ratio is currently 64.52%.
A number of research firms recently weighed in on VLO. Citigroup increased their price objective on Valero Energy from $125.00 to $134.00 and gave the company a “buy” rating in a report on Friday, September 7th. ValuEngine downgraded Valero Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Mizuho began coverage on Valero Energy in a report on Wednesday, August 1st. They issued a “neutral” rating and a $125.00 price objective for the company. Morgan Stanley increased their price objective on Valero Energy from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Valero Energy from $128.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Fourteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $116.59.
In other Valero Energy news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.
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.
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