Raymond James & Associates cut its position in Valero Energy Co. (NYSE:VLO) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 905,622 shares of the oil and gas company’s stock after selling 100,851 shares during the quarter. Raymond James & Associates’ holdings in Valero Energy were worth $83,236,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of VLO. Raymond James Financial Services Advisors Inc. lifted its position in Valero Energy by 6.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 127,272 shares of the oil and gas company’s stock valued at $9,791,000 after purchasing an additional 7,519 shares during the last quarter. Victory Capital Management Inc. lifted its position in Valero Energy by 64.1% in the 3rd quarter. Victory Capital Management Inc. now owns 222,120 shares of the oil and gas company’s stock valued at $17,088,000 after purchasing an additional 86,739 shares during the last quarter. American Century Companies Inc. lifted its position in Valero Energy by 104.4% in the 3rd quarter. American Century Companies Inc. now owns 477,004 shares of the oil and gas company’s stock valued at $36,696,000 after purchasing an additional 243,656 shares during the last quarter. Sei Investments Co. lifted its position in Valero Energy by 24.5% in the 3rd quarter. Sei Investments Co. now owns 119,437 shares of the oil and gas company’s stock valued at $9,188,000 after purchasing an additional 23,514 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in Valero Energy in the 3rd quarter valued at about $240,000. Hedge funds and other institutional investors own 80.10% of the company’s stock.
Several analysts recently weighed in on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $78.00 price objective on shares of Valero Energy in a research report on Friday, November 17th. Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price objective on the stock in a research report on Wednesday, February 14th. Standpoint Research downgraded shares of Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Thursday, November 16th. Credit Suisse Group initiated coverage on shares of Valero Energy in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 price target on the stock. Finally, Bank of America boosted their price target on shares of Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $90.76.
Valero Energy (NYSE:VLO) last released its earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. The business had revenue of $26.39 billion for the quarter, compared to the consensus estimate of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.30%. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. research analysts expect that Valero Energy Co. will post 7.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th were given a $0.80 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, February 12th. Valero Energy’s dividend payout ratio (DPR) is 34.63%.
Valero Energy declared that its board has authorized a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO Michael S. Ciskowski sold 251,530 shares of Valero Energy stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total value of $23,465,233.70. Following the transaction, the chief financial officer now directly 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 accessible through this hyperlink. Also, Director Stephen M. Waters sold 1,000 shares of Valero Energy stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total transaction of $87,230.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 298,187 shares of company stock worth $27,611,828. 0.45% of the stock is currently owned by insiders.
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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