Spirit of America Management Corp NY Cuts Holdings in Valero Energy Corporation $VLO

Spirit of America Management Corp NY cut its position in shares of Valero Energy Corporation (NYSE:VLO) by 23.6% during the 2nd quarter, Holdings Channel reports. The firm owned 54,834 shares of the oil and gas company’s stock after selling 16,950 shares during the quarter. Valero Energy makes up approximately 1.5% of Spirit of America Management Corp NY’s holdings, making the stock its 12th largest holding. Spirit of America Management Corp NY’s holdings in Valero Energy were worth $7,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Broadway Wealth Solutions Inc. boosted its holdings in Valero Energy by 3.8% during the second quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 69 shares during the last quarter. Park Place Capital Corp raised its position in Valero Energy by 21.8% in the second quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 75 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Valero Energy by 1.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company’s stock worth $732,000 after acquiring an additional 78 shares during the period. Summit Financial LLC raised its position in Valero Energy by 4.6% in the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company’s stock worth $239,000 after acquiring an additional 79 shares during the period. Finally, Keeley Teton Advisors LLC raised its position in Valero Energy by 1.1% in the first quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company’s stock worth $1,025,000 after acquiring an additional 81 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

NYSE VLO opened at $157.62 on Friday. The company’s 50 day moving average is $155.99 and its 200-day moving average is $138.84. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The firm has a market cap of $48.96 billion, a P/E ratio of 65.68, a price-to-earnings-growth ratio of 1.61 and a beta of 1.05.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. Sell-side analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on VLO. Mizuho lifted their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Wells Fargo & Company began coverage on shares of Valero Energy in a research report on Friday. They issued an “overweight” rating and a $216.00 price objective on the stock. UBS Group lifted their price objective on shares of Valero Energy from $165.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Evercore ISI lifted their price objective on shares of Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Finally, Citigroup lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.27.

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.