Jaffetilchin Investment Partners LLC lessened its holdings in shares of Valero Energy Co. (NYSE:VLO) by 50.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,368 shares of the oil and gas company’s stock after selling 3,497 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Valero Energy were worth $310,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putnam FL Investment Management Co. acquired a new stake in Valero Energy in the third quarter worth $1,910,000. Prudential Financial Inc. grew its holdings 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 worth $250,174,000 after purchasing an additional 411,630 shares during the period. Clinton Group Inc. grew its holdings in Valero Energy by 42.3% in the second quarter. Clinton Group Inc. now owns 34,022 shares of the oil and gas company’s stock worth $2,295,000 after purchasing an additional 10,112 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Valero Energy by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 366,000 shares of the oil and gas company’s stock valued at $28,275,000 after buying an additional 7,200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Valero Energy by 45.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,747 shares of the oil and gas company’s stock valued at $19,367,000 after buying an additional 78,904 shares during the last quarter. Institutional investors and hedge funds own 81.40% of the company’s stock.
In other Valero Energy news, Director Philip J. Pfeiffer sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $81.42, for a total transaction of $122,130.00. 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 the firm’s 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. Insiders have sold a total of 299,687 shares of company stock worth $27,733,958 over the last three months. 0.45% of the stock is currently owned by insiders.
Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America lifted their price objective 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. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $98.00 price objective on shares of Valero Energy in a research report on Monday, January 22nd. Cowen reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a research report on Thursday. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price target on shares of Valero Energy in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Valero Energy presently has an average rating of “Hold” and an average target price of $89.06.
Valero Energy Co. (VLO) traded down $1.50 during trading hours on Friday, reaching $93.19. 4,649,307 shares of the company were exchanged, compared to its average volume of 2,960,000. 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 52 week low of $60.69 and a 52 week high of $99.95. The company has a market cap of $41,160.00, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.17 and a beta of 0.99.
Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Valero Energy had a net margin of 4.33% and a return on equity of 10.55%. The business had revenue of $26.39 billion during the quarter, compared to analyst estimates of $23.02 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. research analysts predict that Valero Energy Co. will post 7.3 EPS for the current fiscal year.
Valero Energy announced that its board has approved a share repurchase program on Tuesday, January 23rd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.43%. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, February 12th. Valero Energy’s dividend payout ratio is 60.74%.
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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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