Van ECK Associates Corp Reduces Holdings in Valero Energy Co. (NYSE:VLO)

Van ECK Associates Corp trimmed its position in shares of Valero Energy Co. (NYSE:VLO) by 19.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 334,041 shares of the oil and gas company’s stock after selling 79,298 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of Valero Energy worth $52,364,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy during the second quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the 2nd quarter valued at $29,000. Summit Securities Group LLC purchased a new stake in Valero Energy in the 2nd quarter valued at $31,000. Rise Advisors LLC purchased a new stake in Valero Energy in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Valero Energy in the 1st quarter valued at $33,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Trading Up 3.5 %

VLO traded up $4.92 during mid-day trading on Friday, hitting $146.73. 3,359,564 shares of the stock were exchanged, compared to its average volume of 2,981,542. The firm’s fifty day moving average is $150.21 and its two-hundred day moving average is $155.51. Valero Energy Co. has a 1-year low of $119.88 and a 1-year high of $184.79. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. The company has a market cap of $47.98 billion, a PE ratio of 7.27, a PEG ratio of 2.78 and a beta of 1.42.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. The company had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. Valero Energy’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $5.40 EPS. Equities analysts forecast that Valero Energy Co. will post 12.86 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, August 1st. Valero Energy’s dividend payout ratio is currently 21.20%.

Analyst Upgrades and Downgrades

VLO has been the subject of several analyst reports. StockNews.com cut Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Scotiabank upped their target price on Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Wolfe Research began coverage on Valero Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price target on the stock. Wells Fargo & Company upped their price target on Valero Energy from $156.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on Valero Energy from $178.00 to $172.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.00.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.