Cornerstone Advisors LLC Has $768,000 Stock Holdings in Valero Energy Co. (NYSE:VLO)

Cornerstone Advisors LLC trimmed its stake in shares of Valero Energy Co. (NYSE:VLO) by 25.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,900 shares of the oil and gas company’s stock after selling 1,700 shares during the quarter. Cornerstone Advisors LLC’s holdings in Valero Energy were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. 9258 Wealth Management LLC increased its position in shares of Valero Energy by 7.2% during the fourth quarter. 9258 Wealth Management LLC now owns 1,704 shares of the oil and gas company’s stock worth $222,000 after buying an additional 114 shares during the period. PNC Financial Services Group Inc. grew its holdings in Valero Energy by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 172,884 shares of the oil and gas company’s stock worth $22,475,000 after acquiring an additional 3,449 shares during the period. Sachetta LLC bought a new position in shares of Valero Energy in the 4th quarter worth about $309,000. Quest Partners LLC acquired a new position in shares of Valero Energy in the 4th quarter valued at about $662,000. Finally, Franklin Resources Inc. boosted its position in shares of Valero Energy by 23.1% during the 4th quarter. Franklin Resources Inc. now owns 598,764 shares of the oil and gas company’s stock valued at $77,839,000 after purchasing an additional 112,178 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Trading Up 1.6 %

Shares of Valero Energy stock opened at $135.85 on Wednesday. The company has a market capitalization of $43.52 billion, a P/E ratio of 6.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40. The stock has a fifty day simple moving average of $146.01 and a 200 day simple moving average of $155.37. Valero Energy Co. has a 12-month low of $119.88 and a 12-month 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.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The company had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. During the same quarter in the prior year, the company posted $5.40 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Valero Energy Co. will post 12.3 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were paid a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.15%. Valero Energy’s payout ratio is presently 21.20%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VLO shares. Scotiabank lifted their target price on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Valero Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $177.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Valero Energy from $165.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $171.36.

Valero Energy Profile

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.