Wealth Enhancement Advisory Services LLC Increases Stake in Valero Energy Co. (VLO)
Wealth Enhancement Advisory Services LLC boosted its stake in Valero Energy Co. (NYSE:VLO) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 21,227 shares of the company’s stock after buying an additional 2,775 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Valero Energy were worth $1,083,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Valero Energy during the first quarter valued at about $284,000. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Valero Energy by 95.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 27,327 shares of the company’s stock valued at $1,753,000 after buying an additional 13,366 shares in the last quarter. State Street Corp boosted its stake in shares of Valero Energy by 1.1% in the first quarter. State Street Corp now owns 25,431,263 shares of the company’s stock valued at $1,631,162,000 after buying an additional 272,218 shares in the last quarter. Pegasus Partners Ltd. bought a new stake in shares of Valero Energy during the first quarter valued at about $579,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Valero Energy by 6.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 145,868 shares of the company’s stock valued at $9,357,000 after buying an additional 8,426 shares in the last quarter. 78.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Valero Energy Co. (NYSE:VLO) traded up 0.13% during midday trading on Friday, hitting $53.92. 1,587,246 shares of the stock were exchanged. The firm has a market cap of $24.88 billion, a P/E ratio of 8.66 and a beta of 1.87. Valero Energy Co. has a 12-month low of $46.88 and a 12-month high of $73.88. The stock’s 50 day moving average is $54.95 and its 200 day moving average is $55.18.
Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Valero Energy had a net margin of 3.89% and a return on equity of 14.05%. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $16.79 billion. During the same quarter in the prior year, the business posted $2.66 EPS. Valero Energy’s quarterly revenue was down 22.0% on a year-over-year basis. On average, equities research analysts forecast that Valero Energy Co. will post $3.33 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the stock. Wells Fargo & Co. reissued a “buy” rating on shares of Valero Energy in a research note on Saturday, July 9th. Vetr cut shares of Valero Energy from a “strong-buy” rating to a “buy” rating and set a $60.89 price objective for the company. in a research note on Wednesday, August 3rd. Howard Weil lowered their price objective on shares of Valero Energy from $61.00 to $60.00 and set a “sector outperform” rating for the company in a research note on Wednesday, July 27th. Jefferies Group assumed coverage on shares of Valero Energy in a research note on Tuesday, August 23rd. They set a “buy” rating and a $66.00 price objective for the company. Finally, Zacks Investment Research cut shares of Valero Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Valero Energy presently has an average rating of “Buy” and an average price target of $69.76.
About Valero Energy
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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