OLD Republic International Corp boosted its holdings in Valero Energy Co. (NYSE:VLO) by 42.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,000 shares of the oil and gas company’s stock after acquiring an additional 74,500 shares during the quarter. OLD Republic International Corp’s holdings in Valero Energy were worth $22,794,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VLO. Cipher Capital LP purchased a new position in Valero Energy in the 3rd quarter worth about $966,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in Valero Energy by 44.2% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,277 shares of the oil and gas company’s stock worth $1,406,000 after purchasing an additional 5,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Valero Energy by 45.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,747 shares of the oil and gas company’s stock worth $19,367,000 after purchasing an additional 78,904 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Valero Energy in the 3rd quarter worth about $4,585,000. Finally, Norinchukin Bank The increased its stake in Valero Energy by 3.3% in the 3rd quarter. Norinchukin Bank The now owns 35,573 shares of the oil and gas company’s stock worth $2,737,000 after purchasing an additional 1,137 shares in the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.
A number of equities analysts recently weighed in on VLO shares. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Cowen reissued a “buy” rating and issued a $100.00 price target on shares of Valero Energy in a research note on Thursday, February 1st. Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price target on shares of Valero Energy in a research note on Tuesday, January 30th. Deutsche Bank dropped their price target on Valero Energy from $98.00 to $95.00 and set a “hold” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $105.00 price target (up previously from $99.00) on shares of Valero Energy in a research note on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. Valero Energy presently has an average rating of “Hold” and a consensus target price of $93.65.
In related news, CFO Michael S. Ciskowski sold 251,530 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total value of $23,465,233.70. Following the completion of the sale, the chief financial officer now owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.45% of the company’s stock.
Valero Energy stock opened at $95.45 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.74. Valero Energy Co. has a 12 month low of $60.69 and a 12 month high of $99.95. The firm has a market capitalization of $40,922.14, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03.
Valero Energy (NYSE:VLO) last released its earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Valero Energy had a return on equity of 10.30% and a net margin of 4.33%. The company had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. equities research analysts forecast that Valero Energy Co. will post 6.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, February 12th. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s payout ratio is 34.63%.
Valero Energy announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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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