M&T Bank Corp Has $24.13 Million Stock Holdings in Valero Energy Co. (NYSE:VLO)

M&T Bank Corp increased its position in shares of Valero Energy Co. (NYSE:VLO) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,254 shares of the oil and gas company’s stock after acquiring an additional 14,035 shares during the period. M&T Bank Corp owned about 0.10% of Valero Energy worth $24,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. lifted its stake in Valero Energy by 19.5% in the 4th quarter. Macquarie Group Ltd. now owns 30,221 shares of the oil and gas company’s stock valued at $2,829,000 after purchasing an additional 4,933 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Valero Energy by 17.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,360 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 807 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Valero Energy by 36.2% during the first quarter. The Manufacturers Life Insurance Company now owns 995,830 shares of the oil and gas company’s stock valued at $45,172,000 after acquiring an additional 264,703 shares during the last quarter. Bangor Savings Bank bought a new position in shares of Valero Energy during the second quarter valued at $280,000. Finally, Old Port Advisors raised its stake in shares of Valero Energy by 5.0% during the second quarter. Old Port Advisors now owns 6,665 shares of the oil and gas company’s stock valued at $392,000 after acquiring an additional 315 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

VLO stock opened at $56.23 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.31 and a quick ratio of 0.89. Valero Energy Co. has a one year low of $31.00 and a one year high of $101.99. The stock has a market cap of $22.92 billion, a PE ratio of 21.71 and a beta of 1.96. The firm has a 50 day simple moving average of $57.93 and a two-hundred day simple moving average of $63.78.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported ($1.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.41) by $0.16. Valero Energy had a net margin of 1.22% and a return on equity of 5.26%. The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the company earned $1.51 EPS. The business’s quarterly revenue was down 64.1% compared to the same quarter last year. On average, research analysts expect that Valero Energy Co. will post -1.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 4th will be paid a $0.98 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.92 dividend on an annualized basis and a yield of 6.97%. Valero Energy’s dividend payout ratio is presently 68.77%.

VLO has been the subject of several analyst reports. Scotiabank dropped their price target on shares of Valero Energy from $82.00 to $72.00 and set a “sector outperform” rating for the company in a research note on Monday, July 13th. Credit Suisse Group raised their price target on shares of Valero Energy from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Raymond James dropped their price target on shares of Valero Energy from $73.00 to $69.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Goldman Sachs Group downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Tuesday, June 16th. Finally, Argus decreased their price objective on shares of Valero Energy from $110.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.14.

Valero Energy Profile

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.

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

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