Municipal Employees Retirement System of Michigan grew its position in Valero Energy Co. (NYSE:VLO) by 16.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,860 shares of the oil and gas company’s stock after buying an additional 3,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Valero Energy were worth $2,009,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC lifted its stake in Valero Energy by 8.3% during the 4th quarter. BKD Wealth Advisors LLC now owns 7,092 shares of the oil and gas company’s stock valued at $652,000 after acquiring an additional 541 shares during the period. Daiwa SB Investments Ltd. lifted its stake in Valero Energy by 26.1% during the 4th quarter. Daiwa SB Investments Ltd. now owns 2,660 shares of the oil and gas company’s stock valued at $244,000 after acquiring an additional 550 shares during the period. Johnson Financial Group Inc. lifted its stake in Valero Energy by 1.5% during the 4th quarter. Johnson Financial Group Inc. now owns 40,047 shares of the oil and gas company’s stock valued at $3,681,000 after acquiring an additional 591 shares during the period. BB&T Investment Services Inc. lifted its stake in Valero Energy by 6.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 10,276 shares of the oil and gas company’s stock valued at $791,000 after acquiring an additional 630 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Valero Energy by 1.9% during the 3rd quarter. GSA Capital Partners LLP now owns 34,781 shares of the oil and gas company’s stock valued at $2,676,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 80.10% of the company’s stock.
Shares of Valero Energy Co. (NYSE:VLO) opened at $93.79 on Friday. 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 $39,995.14, a price-to-earnings ratio of 10.15, a PEG ratio of 1.04 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.
Valero Energy (NYSE:VLO) last released its 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. Valero Energy had a net margin of 4.33% and a return on equity of 10.30%. The business had revenue of $26.39 billion during the quarter, compared to analyst estimates of $23.02 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities research analysts forecast that Valero Energy Co. will post 7.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.80 per share. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.41%. Valero Energy’s dividend payout ratio is presently 34.63%.
Valero Energy declared that its Board of Directors has authorized a stock repurchase plan 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 buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several analysts have commented on VLO shares. Piper Jaffray Companies restated a “hold” rating and set a $78.00 price objective on shares of Valero Energy in a research note on Friday, November 17th. Scotiabank reaffirmed a “buy” rating and set a $93.00 target price on shares of Valero Energy in a report on Friday, December 22nd. ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Credit Suisse Group initiated coverage on shares of Valero Energy in a report on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 target price for the company. Finally, Citigroup lifted their target price on shares of Valero Energy from $76.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.35.
In other news, CFO Michael S. Ciskowski sold 45,657 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the completion of the sale, the chief financial officer now owns 57,589 shares of the company’s stock, valued at $5,120,237.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael S. Ciskowski sold 251,530 shares of the business’s stock in a transaction dated 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 directly owns 309,119 shares in the company, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.
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Valero Energy 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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