APG Asset Management N.V. reduced its position in Valero Energy Co. (NYSE:VLO) by 6.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,027,160 shares of the oil and gas company’s stock after selling 75,717 shares during the period. APG Asset Management N.V. owned approximately 0.25% of Valero Energy worth $67,629,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. BlackRock Inc. raised its position in Valero Energy by 5.7% in the 2nd quarter. BlackRock Inc. now owns 37,668,654 shares of the oil and gas company’s stock valued at $2,941,168,000 after buying an additional 2,035,454 shares during the last quarter. Bank of New York Mellon Corp raised its position in Valero Energy by 24.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,065,896 shares of the oil and gas company’s stock valued at $577,518,000 after buying an additional 1,558,584 shares during the last quarter. Geode Capital Management LLC raised its position in Valero Energy by 17.6% in the 2nd quarter. Geode Capital Management LLC now owns 7,044,978 shares of the oil and gas company’s stock valued at $548,502,000 after buying an additional 1,052,800 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Valero Energy by 184.6% during the 1st quarter. Primecap Management Co. CA now owns 1,042,900 shares of the oil and gas company’s stock valued at $74,672,000 after purchasing an additional 676,459 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. increased its position in shares of Valero Energy by 79.9% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 1,035,260 shares of the oil and gas company’s stock valued at $80,833,000 after purchasing an additional 459,828 shares during the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on VLO shares. Morgan Stanley initiated coverage on Valero Energy in a research report on Tuesday, September 7th. They set an “overweight” rating and a $80.00 target price for the company. Wells Fargo & Company lifted their price objective on Valero Energy from $99.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. Barclays lifted their price objective on Valero Energy from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, October 5th. Zacks Investment Research raised Valero Energy from a “sell” rating to a “hold” rating and set a $69.00 price objective for the company in a report on Wednesday, September 8th. Finally, Royal Bank of Canada lifted their price objective on Valero Energy from $91.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.38.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.33. The firm had revenue of $27.75 billion during the quarter, compared to the consensus estimate of $22.66 billion. Valero Energy had a negative return on equity of 7.31% and a negative net margin of 1.69%. As a group, analysts predict that Valero Energy Co. will post 0.2 earnings per share for the current year.
About Valero Energy
Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations.
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