Raymond James Financial Services Advisors Inc. increased its holdings in shares of Valero Energy Co. (NYSE:VLO) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,816 shares of the oil and gas company’s stock after purchasing an additional 1,544 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Valero Energy were worth $11,839,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp grew its stake in Valero Energy by 4,916.0% in the third quarter. Stifel Financial Corp now owns 1,378,101 shares of the oil and gas company’s stock valued at $106,014,000 after acquiring an additional 1,350,627 shares during the period. Wells Fargo & Company MN grew its stake in Valero Energy by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,930,471 shares of the oil and gas company’s stock valued at $269,338,000 after acquiring an additional 494,511 shares during the period. Bank of Montreal Can grew its stake in Valero Energy by 17.4% in the fourth 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 acquiring an additional 475,381 shares during the period. Bank of New York Mellon Corp grew its stake in Valero Energy by 4.3% in the third 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 acquiring an additional 469,406 shares during the period. Finally, Prudential Financial Inc. grew its stake in Valero Energy by 14.5% in the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock valued at $250,174,000 after acquiring an additional 411,630 shares during the period. 78.95% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on VLO shares. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Cowen reissued a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a research note on Thursday, February 1st. UBS Group raised their price objective on Valero Energy from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price objective on shares of Valero Energy in a research note on Tuesday, January 30th. Finally, Evercore ISI raised Valero Energy from an “in-line” rating to an “outperform” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $90.12.
In related news, CFO Michael S. Ciskowski sold 251,530 shares of Valero Energy stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the sale, the chief financial officer now directly owns 309,119 shares in the company, valued at $28,837,711.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael S. Ciskowski sold 45,657 shares of Valero Energy stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total value of $4,059,363.87. Following the sale, the chief financial officer now owns 57,589 shares in the company, valued at $5,120,237.99. The disclosure for this sale can be found here. Insiders have sold 298,187 shares of company stock worth $27,611,828 over the last quarter. 0.45% of the stock is currently owned by corporate insiders.
Valero Energy Co. (NYSE VLO) opened at $91.58 on Wednesday. Valero Energy Co. has a fifty-two week low of $60.69 and a fifty-two week high of $99.95. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $40,070.00, a P/E ratio of 19.87, a PEG ratio of 1.12 and a beta of 0.99.
Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.08. The company had revenue of $26.39 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.81 earnings per share. sell-side analysts forecast that Valero Energy Co. will post 7.13 EPS for the current fiscal 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 dividend of $0.80 per share. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Monday, February 12th. Valero Energy’s dividend payout ratio (DPR) is 69.41%.
Valero Energy announced that its Board of Directors has approved a share buyback program on Tuesday, January 23rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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Valero Energy Company 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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