Municipal Employees Retirement System of Michigan decreased its position in Valero Energy Co. (NYSE:VLO) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,940 shares of the oil and gas company’s stock after selling 1,100 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Valero Energy were worth $1,022,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Advisory Alpha LLC acquired a new position in shares of Valero Energy in the first quarter valued at approximately $27,000. Archford Capital Strategies LLC grew its position in Valero Energy by 122.7% during the second quarter. Archford Capital Strategies LLC now owns 363 shares of the oil and gas company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Covenant Multifamily Offices LLC acquired a new stake in Valero Energy during the first quarter worth approximately $36,000. First Manhattan Co. grew its position in Valero Energy by 47.1% during the first quarter. First Manhattan Co. now owns 453 shares of the oil and gas company’s stock worth $38,000 after buying an additional 145 shares in the last quarter. Finally, NuWave Investment Management LLC grew its position in Valero Energy by 1,107.7% during the second quarter. NuWave Investment Management LLC now owns 471 shares of the oil and gas company’s stock worth $40,000 after buying an additional 432 shares in the last quarter. 77.47% of the stock is currently owned by institutional investors.

NYSE VLO opened at $76.00 on Thursday. The business’s fifty day simple moving average is $82.48. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.42. Valero Energy Co. has a fifty-two week low of $68.81 and a fifty-two week high of $122.42. The company has a market capitalization of $32.19 billion, a PE ratio of 10.31, a PEG ratio of 1.81 and a beta of 1.48.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.14. Valero Energy had a return on equity of 11.31% and a net margin of 2.27%. The firm had revenue of $28.93 billion during the quarter, compared to analysts’ expectations of $25.45 billion. During the same period in the prior year, the company earned $2.15 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities research analysts expect that Valero Energy Co. will post 5.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.74%. The ex-dividend date is Monday, August 5th. Valero Energy’s payout ratio is presently 48.85%.

A number of equities research analysts recently issued reports on VLO shares. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada set a $98.00 price target on Valero Energy and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Co set a $107.00 price target on Valero Energy and gave the stock a “buy” rating in a research report on Friday, July 26th. Raymond James increased their price target on Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $96.00 to $92.00 in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Valero Energy presently has a consensus rating of “Buy” and an average target price of $105.47.

About Valero Energy

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. 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.

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

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