Mengis Capital Management Inc. boosted its position in shares of Valero Energy Co. (NYSE:VLO) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,162 shares of the oil and gas company’s stock after purchasing an additional 528 shares during the period. Mengis Capital Management Inc.’s holdings in Valero Energy were worth $2,911,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in Valero Energy during the 1st quarter worth about $90,000. Thomasville National Bank bought a new stake in Valero Energy during the 2nd quarter worth about $1,606,000. Private Trust Co. NA lifted its position in Valero Energy by 11.4% during the 2nd quarter. Private Trust Co. NA now owns 3,380 shares of the oil and gas company’s stock worth $289,000 after buying an additional 347 shares in the last quarter. Fulton Bank N.A. lifted its position in Valero Energy by 45.7% during the 2nd quarter. Fulton Bank N.A. now owns 12,057 shares of the oil and gas company’s stock worth $1,032,000 after buying an additional 3,783 shares in the last quarter. Finally, Montecito Bank & Trust lifted its position in Valero Energy by 6.9% during the 2nd quarter. Montecito Bank & Trust now owns 6,132 shares of the oil and gas company’s stock worth $525,000 after buying an additional 395 shares in the last quarter. 76.11% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Valero Energy from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Goldman Sachs Group set a $104.00 price objective on shares of Valero Energy and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of Valero Energy from $96.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Royal Bank of Canada set a $99.00 price objective on shares of Valero Energy and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, ValuEngine lowered shares of Valero Energy from a “sell” rating to a “strong sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $103.22.
Shares of Valero Energy stock traded down $0.18 during trading on Monday, hitting $100.68. 1,890,560 shares of the stock were exchanged, compared to its average volume of 3,464,584. The stock has a market capitalization of $41.89 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.62 and a beta of 1.49. The company has a fifty day moving average price of $90.73 and a 200-day moving average price of $83.27. Valero Energy Co. has a 1-year low of $68.81 and a 1-year high of $101.99. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.13. Valero Energy had a net margin of 2.12% and a return on equity of 10.31%. The company had revenue of $27.25 billion for the quarter, compared to analyst estimates of $25.93 billion. During the same period in the previous year, the business earned $2.01 EPS. Valero Energy’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities research analysts forecast that Valero Energy Co. will post 4.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 20th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $3.60 dividend on an annualized basis and a yield of 3.58%. Valero Energy’s dividend payout ratio (DPR) is currently 48.85%.
Valero Energy Profile
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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