Acadian Asset Management LLC raised its position in Valero Energy Co. (NYSE:VLO) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 460,691 shares of the oil and gas company’s stock after buying an additional 109,680 shares during the period. Acadian Asset Management LLC owned 0.11% of Valero Energy worth $42,343,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Valero Energy by 4.3% during the third quarter. Bank of New York Mellon Corp now owns 11,273,542 shares of the oil and gas company’s stock worth $867,273,000 after buying an additional 469,406 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Valero Energy by 0.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,538,559 shares of the oil and gas company’s stock worth $272,222,000 after buying an additional 25,498 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Valero Energy by 14.5% during the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after buying an additional 411,630 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Valero Energy by 17.4% during the fourth quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock worth $294,188,000 after buying an additional 475,381 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Valero Energy by 2.8% during the third quarter. Legal & General Group Plc now owns 2,818,535 shares of the oil and gas company’s stock worth $216,838,000 after buying an additional 77,428 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.
In other news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $87.23, for a total value of $87,230.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael S. Ciskowski sold 45,657 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the transaction, the chief financial officer now directly owns 57,589 shares in the company, valued at $5,120,237.99. The disclosure for this sale can be found here. Insiders sold 299,687 shares of company stock worth $27,733,958 over the last three months. Insiders own 0.45% of the company’s stock.
VLO has been the subject of a number of recent research reports. Scotiabank reissued a “buy” rating and set a $84.00 price target on shares of Valero Energy in a research note on Tuesday, November 14th. Cowen reaffirmed a “buy” rating and issued a $90.00 target price on shares of Valero Energy in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Valero Energy from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Monday, October 16th. Citigroup upped their target price on shares of Valero Energy from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.06.
Shares of Valero Energy Co. (VLO) traded up $1.45 during mid-day trading on Friday, reaching $88.22. 5,448,855 shares of the company’s stock were exchanged, compared to its average volume of 3,460,000. The firm has a market capitalization of $38,960.00, a PE ratio of 19.14, a P/E/G ratio of 1.10 and a beta of 0.99. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.39. Valero Energy Co. has a 12-month low of $60.69 and a 12-month high of $99.95.
Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. The firm had revenue of $26.39 billion during the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.55%. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. research analysts expect that Valero Energy Co. will post 7.23 EPS for the current fiscal year.
Valero Energy declared that its board has approved a share repurchase 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. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be paid a $0.80 dividend. The ex-dividend date is Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.63%. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio (DPR) is currently 60.74%.
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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