Martingale Asset Management L P raised its stake in shares of Valero Energy Corporation (NYSE:VLO) by 39.2% during the first quarter, Holdings Channel reports. The institutional investor owned 71,127 shares of the oil and gas company’s stock after buying an additional 20,022 shares during the period. Martingale Asset Management L P’s holdings in Valero Energy Corporation were worth $4,716,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of VLO. Tompkins Financial Corp boosted its position in shares of Valero Energy Corporation by 190.3% in the first quarter. Tompkins Financial Corp now owns 1,701 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,115 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Valero Energy Corporation during the first quarter valued at about $127,000. Americafirst Capital Management LLC boosted its position in shares of Valero Energy Corporation by 47.6% in the first quarter. Americafirst Capital Management LLC now owns 2,181 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 703 shares in the last quarter. Advantage Investment Management LLC purchased a new position in shares of Valero Energy Corporation during the fourth quarter valued at about $167,000. Finally, Financial Architects Inc boosted its position in shares of Valero Energy Corporation by 122.7% in the first quarter. Financial Architects Inc now owns 2,913 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 1,605 shares in the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Valero Energy Corporation (NYSE:VLO)

Shares of Valero Energy Corporation (NYSE VLO) opened at 65.80 on Friday. The stock has a market cap of $29.43 billion, a P/E ratio of 14.39 and a beta of 1.28. Valero Energy Corporation has a 12 month low of $46.88 and a 12 month high of $71.40. The stock has a 50 day moving average price of $64.28 and a 200-day moving average price of $65.98.

Valero Energy Corporation (NYSE:VLO) last released its earnings results on Tuesday, April 25th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.08. The company had revenue of $21.77 billion during the quarter, compared to analyst estimates of $19.15 billion. Valero Energy Corporation had a return on equity of 8.31% and a net margin of 2.57%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, analysts forecast that Valero Energy Corporation will post $4.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 7th. Stockholders of record on Wednesday, May 17th were issued a $0.70 dividend. The ex-dividend date was Monday, May 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.26%. Valero Energy Corporation’s payout ratio is currently 61.54%.

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VLO has been the subject of several research reports. Credit Suisse Group reaffirmed a “hold” rating and set a $67.00 price objective on shares of Valero Energy Corporation in a report on Friday, March 24th. Scotiabank reaffirmed a “buy” rating and set a $70.00 price objective on shares of Valero Energy Corporation in a report on Monday, March 27th. Jefferies Group LLC set a $65.00 price objective on Valero Energy Corporation and gave the stock a “hold” rating in a report on Wednesday, April 19th. Citigroup Inc. reaffirmed a “neutral” rating and set a $70.00 price objective (up from $69.50) on shares of Valero Energy Corporation in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Valero Energy Corporation in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.02.

About Valero Energy Corporation

Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations 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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