Newman Dignan & Sheerar Inc. bought a new position in Valero Energy Co. (NYSE:VLO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,044 shares of the oil and gas company’s stock, valued at approximately $280,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Willingdon Wealth Management bought a new position in Valero Energy in the third quarter valued at $100,000. Cable Hill Partners LLC grew its position in Valero Energy by 1,015.3% in the third quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,198 shares in the last quarter. San Francisco Sentry Investment Group CA grew its position in Valero Energy by 2,272.1% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 1,386 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Valero Energy in the 4th quarter valued at about $135,000. Finally, Chicago Partners Investment Group LLC grew its position in shares of Valero Energy by 300.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock valued at $143,000 after acquiring an additional 1,398 shares during the period. Institutional investors own 81.03% of the company’s stock.
Shares of Valero Energy Co. (VLO) traded up $0.46 during midday trading on Tuesday, hitting $89.30. 347,319 shares of the stock were exchanged, compared to its average volume of 3,459,088. The firm has a market cap of $39,080.00, a P/E ratio of 19.31, a P/E/G ratio of 1.10 and a beta of 0.99. Valero Energy Co. has a 1 year low of $60.69 and a 1 year 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.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.08. The firm 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 10.55%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 EPS. sell-side analysts expect that Valero Energy Co. will post 7.23 earnings per share for the current year.
Valero Energy declared that its board has authorized a stock 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 reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.58%. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s payout ratio is 60.74%.
In related news, Director Stephen M. Waters sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $87.23, for a total transaction of $87,230.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael S. Ciskowski sold 251,530 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the transaction, the chief financial officer now owns 309,119 shares in the company, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. Insiders sold a total of 298,187 shares of company stock worth $27,611,828 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.
A number of research analysts have recently commented on VLO shares. Wells Fargo & Co reissued an “outperform” rating and issued a $87.00 price objective (up previously from $74.00) on shares of Valero Energy in a research report on Tuesday, October 17th. Zacks Investment Research upgraded 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 report on Monday, October 16th. ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Cowen reaffirmed a “buy” rating and set a $100.00 price target on shares of Valero Energy in a report on Thursday, February 1st. Finally, UBS Group lifted their price target on shares of Valero Energy from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $89.06.
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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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