Gotham Asset Management LLC cut its stake in shares of Valero Energy Co. (NYSE:VLO) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,644 shares of the oil and gas company’s stock after selling 6,641 shares during the quarter. Gotham Asset Management LLC’s holdings in Valero Energy were worth $9,158,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Valero Energy by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after acquiring an additional 658,940 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Valero Energy by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock worth $445,213,000 after acquiring an additional 72,930 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Valero Energy by 0.7% during the 3rd 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 acquiring an additional 25,498 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Valero Energy during the 4th quarter worth $302,721,000. Finally, Prudential Financial Inc. boosted its stake in shares of 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 worth $250,174,000 after acquiring an additional 411,630 shares in the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on VLO. Citigroup raised Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Wednesday, February 14th. Credit Suisse Group began coverage on Valero Energy in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 price objective for the company. Bank of America raised their price objective on Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Scotiabank reaffirmed a “buy” rating and issued a $93.00 target price on shares of Valero Energy in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $98.00 target price on shares of Valero Energy in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $93.65.
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 completion of the sale, the chief financial officer now owns 309,119 shares of the company’s stock, valued at $28,837,711.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.45% of the stock is currently owned by company insiders.
Shares of Valero Energy Co. (NYSE:VLO) opened at $93.04 on Friday. The stock has a market capitalization of $40,922.14, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.10 and a beta of 1.03. Valero Energy Co. has a 12-month low of $60.69 and a 12-month high of $99.95. The company has a current ratio of 1.74, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (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 return on equity of 10.30% and a net margin of 4.33%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. equities analysts forecast that Valero Energy Co. will post 6.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th were given a dividend of $0.80 per share. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.44%. Valero Energy’s dividend payout ratio (DPR) is presently 34.63%.
Valero Energy announced that its board has initiated a share repurchase plan on Tuesday, January 23rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
About Valero Energy
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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