AMG Funds LLC trimmed its holdings in shares of Valero Energy Co. (NYSE:VLO) by 60.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,978 shares of the oil and gas company’s stock after selling 15,573 shares during the quarter. AMG Funds LLC’s holdings in Valero Energy were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Stifel Financial Corp grew its stake in Valero Energy by 4,916.0% during the 3rd quarter. Stifel Financial Corp now owns 1,378,101 shares of the oil and gas company’s stock valued at $106,014,000 after purchasing an additional 1,350,627 shares during the last quarter. Bank of Montreal Can grew its stake in Valero Energy by 17.4% during the 4th quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock valued at $294,188,000 after purchasing an additional 475,381 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Valero Energy by 4.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,273,542 shares of the oil and gas company’s stock valued at $867,273,000 after purchasing an additional 469,406 shares during the last quarter. Prudential Financial Inc. grew its stake in Valero Energy by 14.5% during the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock valued at $250,174,000 after purchasing an additional 411,630 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Valero Energy during the 3rd quarter valued at about $26,518,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.
Several research firms have weighed in on VLO. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Cowen reiterated a “buy” rating and set a $100.00 price target on shares of Valero Energy in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “buy” rating and set a $110.00 price target on shares of Valero Energy in a research note on Tuesday, January 30th. Bank of America boosted their price target on Valero Energy from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Citigroup boosted their price target on Valero Energy from $76.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Valero Energy presently has a consensus rating of “Hold” and an average target price of $89.06.
In related news, Director Stephen M. Waters sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total value of $87,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael S. Ciskowski sold 251,530 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total value of $23,465,233.70. Following the completion of the transaction, the chief financial officer now directly owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. Insiders sold a total of 299,687 shares of company stock valued at $27,733,958 in the last ninety days. 0.45% of the stock is currently owned by insiders.
Valero Energy Co. (VLO) opened at $88.22 on Monday. The stock has a market capitalization of $38,960.00, a PE ratio of 19.14, a PEG ratio of 1.10 and a beta of 0.99. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39. Valero Energy Co. has a fifty-two week low of $60.69 and a fifty-two week high of $99.95.
Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The business had revenue of $26.39 billion during the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a return on equity of 10.55% and a net margin of 4.33%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. sell-side analysts expect that Valero Energy Co. will post 7.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be issued a $0.80 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.63%. Valero Energy’s dividend payout ratio is presently 60.74%.
Valero Energy declared that its board has authorized a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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Valero Energy Profile
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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