Man Group plc cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 50.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,959 shares of the oil and gas company’s stock after selling 96,278 shares during the period. Man Group plc’s holdings in Valero Energy were worth $7,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the business. Voloridge Investment Management LLC purchased a new stake in shares of Valero Energy during the 3rd quarter worth about $12,899,000. IHT Wealth Management LLC increased its stake in shares of Valero Energy by 49.7% in the 3rd quarter. IHT Wealth Management LLC now owns 5,140 shares of the oil and gas company’s stock valued at $453,000 after purchasing an additional 1,706 shares in the last quarter. National Pension Service raised its holdings in Valero Energy by 4.8% in the 3rd quarter. National Pension Service now owns 524,462 shares of the oil and gas company’s stock worth $44,705,000 after purchasing an additional 23,960 shares during the period. Balentine LLC raised its holdings in Valero Energy by 4,103.7% in the 3rd quarter. Balentine LLC now owns 1,135 shares of the oil and gas company’s stock worth $97,000 after purchasing an additional 1,108 shares during the period. Finally, Torch Wealth Management LLC purchased a new position in Valero Energy during the third quarter worth approximately $887,000. 75.39% of the stock is currently owned by institutional investors.
Several analysts have commented on the company. ValuEngine lowered Valero Energy from a “sell” rating to a “strong sell” rating in a report on Friday, November 8th. Goldman Sachs Group set a $104.00 target price on Valero Energy and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Co increased their target price on Valero Energy from $107.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Royal Bank of Canada set a $99.00 price target on shares of Valero Energy and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Valero Energy from $96.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $100.03.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.13. Valero Energy had a net margin of 2.12% and a return on equity of 10.37%. The firm had revenue of $27.25 billion for the quarter, compared to the consensus estimate of $25.93 billion. During the same period last year, the firm posted $2.01 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, equities analysts forecast that Valero Energy Co. will post 4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 20th will be given a $0.90 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.87%. Valero Energy’s dividend payout ratio (DPR) is presently 48.85%.
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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