Comerica Securities Inc. Decreases Holdings in Valero Energy Corporation (VLO)
Comerica Securities Inc. trimmed its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,038 shares of the oil and gas company’s stock after selling 1,218 shares during the period. Comerica Securities Inc.’s holdings in Valero Energy Corporation were worth $1,014,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC lifted its stake in Valero Energy Corporation by 14.5% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,873 shares of the oil and gas company’s stock valued at $261,000 after acquiring an additional 490 shares during the period. Captrust Financial Advisors acquired a new stake in Valero Energy Corporation during the 2nd quarter valued at approximately $1,780,000. Ameriprise Financial Inc. lifted its stake in Valero Energy Corporation by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,825,862 shares of the oil and gas company’s stock valued at $797,793,000 after acquiring an additional 65,704 shares during the period. Chemical Bank lifted its stake in Valero Energy Corporation by 3.1% during the 2nd quarter. Chemical Bank now owns 36,211 shares of the oil and gas company’s stock valued at $2,443,000 after acquiring an additional 1,097 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in Valero Energy Corporation by 15.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,206,666 shares of the oil and gas company’s stock valued at $148,862,000 after acquiring an additional 291,934 shares during the period. Institutional investors and hedge funds own 80.75% of the company’s stock.
VLO has been the subject of several research reports. US Capital Advisors restated an “overweight” rating on shares of Valero Energy Corporation in a research note on Monday, May 22nd. Piper Jaffray Companies restated a “neutral” rating on shares of Valero Energy Corporation in a research note on Thursday, May 25th. Morgan Stanley cut shares of Valero Energy Corporation from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $77.00 to $70.00 in a research note on Tuesday, May 30th. ValuEngine upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Valero Energy Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Valero Energy Corporation has an average rating of “Buy” and an average target price of $72.56.
In other Valero Energy Corporation news, Director Stephen M. Waters sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total value of $102,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the director now directly owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
Valero Energy Corporation (NYSE VLO) traded up 0.77% during trading on Friday, reaching $70.48. 1,057,495 shares of the company’s stock were exchanged. Valero Energy Corporation has a 52 week low of $51.17 and a 52 week high of $71.40. The stock has a 50-day moving average price of $67.73 and a 200 day moving average price of $66.33. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 17.40 and a beta of 1.19.
Valero Energy Corporation (NYSE:VLO) last released its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The company had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the company earned $1.07 earnings per share. Valero Energy Corporation’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts forecast that Valero Energy Corporation will post $4.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Wednesday, August 9th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Monday, August 7th. Valero Energy Corporation’s dividend payout ratio (DPR) is currently 69.14%.
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Valero Energy Corporation 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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