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Despite lower revenue, Valero Energy beat earnings estimates, as major investors sold off shares.
Phoenix Financial Ltd. and Applied Finance Capital Management LLC both reduced their holdings in Valero Energy Corporation (VLO), selling 3,302 and 78,499 shares respectively.
Despite a 13.3% drop in quarterly revenue year-over-year, Valero Energy reported earnings of $2.28 per share, beating analyst estimates by $0.62.
The company pays a quarterly dividend of $1.13 per share and has a current stock price of $142.03.
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A pesar de los ingresos más bajos, Valero Energy superó las estimaciones de ganancias, ya que los principales inversores vendieron sus acciones.