Pitcairn Co. Sells 1,796 Shares of Valero Energy Co. (NYSE:VLO)

Pitcairn Co. lowered its position in Valero Energy Co. (NYSE:VLO) by 20.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,012 shares of the oil and gas company’s stock after selling 1,796 shares during the period. Pitcairn Co.’s holdings in Valero Energy were worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Valero Energy by 3.0% in the 1st quarter. BlackRock Inc. now owns 34,599,223 shares of the oil and gas company’s stock valued at $1,569,422,000 after buying an additional 998,183 shares in the last quarter. State Street Corp boosted its stake in Valero Energy by 8.5% in the 1st quarter. State Street Corp now owns 23,382,644 shares of the oil and gas company’s stock worth $1,060,637,000 after purchasing an additional 1,824,740 shares during the period. Victory Capital Management Inc. boosted its stake in Valero Energy by 41.5% in the 1st quarter. Victory Capital Management Inc. now owns 3,586,884 shares of the oil and gas company’s stock worth $162,701,000 after purchasing an additional 1,052,007 shares during the period. APG Asset Management N.V. boosted its stake in Valero Energy by 62.5% in the 1st quarter. APG Asset Management N.V. now owns 3,227,282 shares of the oil and gas company’s stock worth $243,817,000 after purchasing an additional 1,240,983 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Valero Energy by 71.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,055,647 shares of the oil and gas company’s stock worth $138,603,000 after purchasing an additional 1,276,000 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Shares of VLO opened at $56.23 on Friday. Valero Energy Co. has a 12 month low of $31.00 and a 12 month high of $101.99. The firm’s 50 day moving average is $57.93 and its 200-day moving average is $63.78. The stock has a market capitalization of $22.92 billion, a PE ratio of 56.80 and a beta of 1.96. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 30th. The oil and gas company reported ($1.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.16. Valero Energy had a net margin of 0.41% and a return on equity of 10.51%. The company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was down 64.1% on a year-over-year basis. Equities research analysts predict that Valero Energy Co. will post -1.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.92 annualized dividend and a dividend yield of 6.97%. Valero Energy’s dividend payout ratio is presently 68.77%.

A number of brokerages recently weighed in on VLO. Mizuho reduced their target price on shares of Valero Energy from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Jefferies Financial Group raised shares of Valero Energy from a “hold” rating to a “buy” rating and reduced their target price for the stock from $65.00 to $62.00 in a research note on Monday, July 20th. Scotiabank reduced their price objective on shares of Valero Energy from $82.00 to $72.00 and set a “sector outperform” rating for the company in a research note on Monday, July 13th. Barclays restated a “buy” rating and set a $71.00 price objective on shares of Valero Energy in a research note on Tuesday, May 5th. Finally, Morgan Stanley downgraded shares of Valero Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, July 8th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $74.14.

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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