Valero Energy Corp. (VLO) Shares Bought by Concert Wealth Management Inc.
Concert Wealth Management Inc. increased its position in shares of Valero Energy Corp. (NYSE:VLO) by 62.8% during the second quarter, Holdings Channel reports. The fund owned 15,942 shares of the company’s stock after buying an additional 6,147 shares during the period. Concert Wealth Management Inc.’s holdings in Valero Energy Corp. were worth $816,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Security National Trust Co. raised its stake in shares of Valero Energy Corp. by 4.8% in the second quarter. Security National Trust Co. now owns 2,347 shares of the company’s stock valued at $119,000 after buying an additional 107 shares in the last quarter. First American Bank acquired a new stake in shares of Valero Energy Corp. during the second quarter valued at about $205,000. Sand Hill Global Advisors LLC acquired a new stake in shares of Valero Energy Corp. during the first quarter valued at about $211,000. Financial Architects Inc raised its stake in shares of Valero Energy Corp. by 163.4% in the second quarter. Financial Architects Inc now owns 4,231 shares of the company’s stock valued at $216,000 after buying an additional 2,625 shares in the last quarter. Finally, Traynor Capital Management Inc. acquired a new stake in shares of Valero Energy Corp. during the second quarter valued at about $232,000. 78.49% of the stock is owned by institutional investors and hedge funds.
Valero Energy Corp. (NYSE:VLO) traded up 0.92% during mid-day trading on Monday, reaching $54.77. The company had a trading volume of 2,472,813 shares. Valero Energy Corp. has a 1-year low of $46.88 and a 1-year high of $73.88. The firm has a 50-day moving average of $55.05 and a 200 day moving average of $55.43. The company has a market capitalization of $25.27 billion, a PE ratio of 8.80 and a beta of 1.87.
Valero Energy Corp. (NYSE:VLO) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.04. The business earned $19.58 billion during the quarter, compared to analysts’ expectations of $16.79 billion. Valero Energy Corp. had a return on equity of 14.05% and a net margin of 3.89%. The business’s quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.66 earnings per share. On average, analysts predict that Valero Energy Corp. will post $3.33 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Valero Energy Corp. in a research report on Saturday, July 9th. Vetr lowered Valero Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $60.89 target price for the company. in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Valero Energy Corp. in a research report on Sunday, June 12th. Howard Weil decreased their target price on Valero Energy Corp. from $61.00 to $60.00 and set a “sector outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Jefferies Group initiated coverage on Valero Energy Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $66.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Valero Energy Corp. presently has an average rating of “Buy” and an average target price of $69.76.
About Valero Energy Corp.
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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