Ontario Teachers Pension Plan Board grew its stake in shares of Valero Energy Co. (NYSE:VLO) by 29.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,572 shares of the oil and gas company’s stock after acquiring an additional 33,951 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Valero Energy were worth $13,839,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Putnam FL Investment Management Co. bought a new position in Valero Energy in the third quarter worth approximately $1,910,000. Prudential Financial Inc. raised its stake 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 buying an additional 411,630 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Valero Energy by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 366,000 shares of the oil and gas company’s stock worth $28,275,000 after buying an additional 7,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Valero Energy by 45.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,747 shares of the oil and gas company’s stock worth $19,367,000 after buying an additional 78,904 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Valero Energy by 33.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 339,163 shares of the oil and gas company’s stock worth $26,092,000 after buying an additional 84,254 shares in the last quarter. 78.95% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on VLO. Macquarie reissued a “neutral” rating on shares of Valero Energy in a research note on Monday, October 23rd. They noted that the move was a valuation call. Cowen reissued a “buy” rating and issued a $90.00 price objective on shares of Valero Energy in a research note on Friday, November 3rd. Piper Jaffray Companies reissued a “hold” rating and issued a $98.00 price objective on shares of Valero Energy in a research note on Monday, January 22nd. Zacks Investment Research raised shares of Valero Energy from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Monday, October 23rd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price objective on shares of Valero Energy in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $90.12.
Valero Energy Co. (NYSE VLO) opened at $93.27 on Tuesday. 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 1-year low of $60.69 and a 1-year high of $99.95. The stock has a market cap of $40,813.18, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.99.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. The firm had revenue of $26.39 billion for the quarter, compared to analyst estimates of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.55%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. sell-side analysts anticipate that Valero Energy Co. will post 7.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, February 12th. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.43%. Valero Energy’s payout ratio is 34.63%.
Valero Energy announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the chief financial officer now directly owns 309,119 shares in the company, valued at $28,837,711.51. The disclosure for this sale can be found here. Insiders have sold 298,187 shares of company stock worth $27,611,828 over the last three months. Corporate 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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