State of Tennessee Treasury Department trimmed its stake in Valero Energy Co. (NYSE:VLO) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 240,248 shares of the oil and gas company’s stock after selling 3,800 shares during the period. State of Tennessee Treasury Department’s holdings in Valero Energy were worth $22,081,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of VLO. Xact Kapitalforvaltning AB increased its holdings in Valero Energy by 2.7% in the third quarter. Xact Kapitalforvaltning AB now owns 39,446 shares of the oil and gas company’s stock valued at $3,035,000 after purchasing an additional 1,021 shares during the period. Huntington National Bank grew its holdings in Valero Energy by 22.9% during the 3rd quarter. Huntington National Bank now owns 469,832 shares of the oil and gas company’s stock worth $36,145,000 after acquiring an additional 87,642 shares during the period. First Midwest Bank Trust Division grew its holdings in Valero Energy by 52.3% during the 3rd quarter. First Midwest Bank Trust Division now owns 80,944 shares of the oil and gas company’s stock worth $6,227,000 after acquiring an additional 27,782 shares during the period. Regentatlantic Capital LLC grew its holdings in Valero Energy by 3.0% during the 3rd quarter. Regentatlantic Capital LLC now owns 121,681 shares of the oil and gas company’s stock worth $9,361,000 after acquiring an additional 3,517 shares during the period. Finally, Calamos Advisors LLC grew its holdings in Valero Energy by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 56,495 shares of the oil and gas company’s stock worth $4,346,000 after acquiring an additional 1,930 shares during the period. Institutional investors and hedge funds own 78.95% of the company’s stock.
A number of brokerages have weighed in on VLO. Citigroup increased their price target on 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 increased their price target on Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Piper Jaffray Companies reiterated a “hold” rating and set a $98.00 price target on shares of Valero Energy in a report on Monday, January 22nd. Cowen reiterated a “buy” rating and set a $100.00 price target on shares of Valero Energy in a report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $110.00 price target on shares of Valero Energy in a report 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 company. Valero Energy currently has an average rating of “Hold” and an average price target of $90.12.
Valero Energy Co. (NYSE VLO) opened at $92.46 on Friday. The stock has a market cap of $40,279.33, a PE ratio of 18.48, a PEG ratio of 1.10 and a beta of 1.01. The company has a current ratio of 1.91, a quick ratio of 1.24 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.
Valero Energy (NYSE:VLO) last released its quarterly earnings data 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 company had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.55%. The business’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. research analysts forecast that Valero Energy Co. will post 7.16 earnings per share 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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, February 12th. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is 34.63%.
Valero Energy declared that its board has initiated a share buyback program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are often 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 stock in a transaction dated 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 legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael S. Ciskowski sold 251,530 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 309,119 shares in the company, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. Insiders have sold a total of 298,187 shares of company stock worth $27,611,828 in the last three months. Insiders own 0.45% of the company’s stock.
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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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