Wells Fargo & Company MN increased its position in shares of Valero Energy Co. (NYSE:VLO) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,930,471 shares of the oil and gas company’s stock after acquiring an additional 494,511 shares during the quarter. Wells Fargo & Company MN owned 0.67% of Valero Energy worth $269,338,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in VLO. Willingdon Wealth Management acquired a new stake in shares of Valero Energy during the third quarter valued at approximately $100,000. Cable Hill Partners LLC raised its holdings in shares of Valero Energy by 1,015.3% during 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 acquiring an additional 1,198 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Valero Energy by 211.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 799 shares during the period. San Francisco Sentry Investment Group CA raised its holdings in shares of Valero Energy by 2,272.1% during 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 acquiring an additional 1,386 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Valero Energy during the fourth quarter valued at approximately $135,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
Shares of Valero Energy Co. (NYSE:VLO) opened at $93.27 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24. The company has a market cap of $40,695.03, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. Valero Energy Co. has a 1 year low of $60.69 and a 1 year high of $99.95.
Valero Energy (NYSE:VLO) last posted its earnings results 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. The company had revenue of $26.39 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. sell-side analysts predict that Valero Energy Co. will post 7.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be given a $0.80 dividend. 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 payout ratio is currently 34.63%.
Valero Energy announced that its board has initiated a stock buyback program 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 repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Wednesday. ValuEngine upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Cowen reiterated a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $110.00 price objective on shares of Valero Energy in a research note on Tuesday, January 30th. Finally, Bank of America upped their price objective on shares of Valero Energy from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $90.12.
In related news, Director Stephen M. Waters sold 1,000 shares of the company’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 Securities & Exchange Commission, which is available through this link. Also, CFO Michael S. Ciskowski sold 251,530 shares of the company’s 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 sale, the chief financial officer now directly owns 309,119 shares of the company’s stock, valued at $28,837,711.51. The disclosure for this sale can be found here. Insiders sold 298,187 shares of company stock valued at $27,611,828 over the last three months. Insiders own 0.45% of the company’s stock.
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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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