Economy

Valero Energy Corporation (NYSE:VLO) Upward Momentum Touches New Heights

Valero Energy Corporation (NYSE:VLO) Upward Momentum Touches New Heights”

Alliancebernstein L.P. cut its stake in Valero Energy Corporation (NYSE:VLO) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. Stifel Financial Corp boosted its holdings in Valero Energy Corporation by 133.7% in the first quarter. It also reduced Arcelormittal Sa Luxembourg Ny Registry Sh (NYSE:MT) stake by 916,740 shares and now owns 270,066 shares. If the published price targets set by Valero Energy Corporation analysts have any power to influence the stock's share price, the highest price target set for VLO is $85. The Luminus Management Llc holds 1.76M shares with $120.32 million value, up from 696,297 last quarter. The stock exchanged hands with 2,081,332 numbers of shares compared to its average daily volume of 2.05M shares. 805,196 are owned by Blackrock Japan Ltd. Gemmer Asset Mngmt Lc invested 0.01% in Valero Energy Corporation (NYSE:VLO). Pittenger & Anderson Inc. now owns 9,285 shares of the oil and gas company's stock valued at $626,000 after buying an additional 2,910 shares during the period. Badgley Phelps & Bell has invested 0.53% in Valero Energy Corporation (NYSE:VLO). The target implies a 3.21% spike from where the shares are now trading. Finally, Eads & Heald Investment Counsel lifted its stake in Valero Energy Corporation by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 313,216 shares of the oil and gas company's stock valued at $21,130,000 after buying an additional 102,703 shares during the period. Moreover, First National Bank Of Omaha has 0.11% invested in the company for 64,640 shares.

VLO has been the subject of several research reports. Jefferies downgraded Valero Energy Corporation (NYSE:VLO) on Thursday, January 12 to "Hold" rating. Wunderlich maintained the shares of DSPG in report on Friday, July 31 with "Buy" rating. If the $75.88 target price is reached, the company's valuation will be $1.29B more. Jefferies Group LLC dropped their target price on shares of Valero Energy Corporation from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, August 23rd. Cowen & Co maintained Valero Energy Corporation (NYSE:VLO) on Thursday, July 27 with "Buy" rating. Finally, Piper Jaffray Companies reissued a "neutral" rating on shares of Valero Energy Corporation in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The company now has a consensus rating of "Buy" and an average price target of $72.56. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & global trademark & copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/09/20/valero-energy-corporation-vlo-position-reduced-by-pinebridge-investments-l-p.html. The company's P/E (price to earnings) ratio is 18.02 and Forward P/E ratio of 13.1. Valero Energy Corporation has a 12-month low of $51.17 and a 12-month high of $73.38. The company's 50 day moving average price is $68.09 and its 200-day moving average price is $66.42. RBC Capital Markets maintained Valero Energy Corporation (NYSE:VLO) on Friday, January 29 with "Outperform" rating. Fiduciary Trust Company sold 45,696 shares as the company's stock declined 2.47% while stock markets rallied. Valero Energy Corporation had a net profit margin of 2.17% and a ROE of 8.59%. During the same period in the prior year, the firm earned $1.07 earnings per share. The company's quarterly revenue was up 13.6% on a year-over-year basis. Boothbay Fund Mngmt Ltd Limited Liability Company holds 0.22% of its portfolio in Valero Energy Corporation (NYSE:VLO) for 9,910 shares.

The company 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. It last reported revenues of $50.05 billion and EPS of $2.46 for the June 2017, representing 8% top-line growth and 1.96 EPS growth. The ex-dividend date was Monday the 7th of August 2017. Valero Energy Corporation's yield ratio (DPR) is presently 69.14%.

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 lowest price the stock reached in the last trading day was $98.69 and compares with the $68.43 52-week low. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The Business's segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining activities 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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