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Westchester Capital Management slightly cuts stake in Valero Energy, which beat earnings estimates.
Westchester Capital Management Inc. slightly reduced its stake in Valero Energy Corporation (VLO) by 0.1% in the first quarter, selling 119 shares to own 86,149 shares worth $11.38 million.
Valero Energy recently reported earnings per share (EPS) of $2.28, $0.62 above analysts' estimates.
Despite share reductions by institutional investors like Westchester and ProVise Management Group LLC, Valero Energy has a strong "Moderate Buy" consensus rating and a dividend yield of 3.4%.
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Westchester Capital Management recorta ligeramente su participación en Valero Energy, lo que superó las estimaciones de ganancias.