Municipal Employees Retirement System of Michigan raised its stake in shares of Valero Energy Co. (NYSE:VLO) by 16.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 bought and sold shares of VLO. Bank of New York Mellon Corp boosted its holdings in Valero Energy by 5.8% in the 4th quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after buying an additional 658,940 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Valero Energy by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock worth $445,213,000 after purchasing an additional 72,930 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Valero Energy by 0.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,538,559 shares of the oil and gas company’s stock worth $272,222,000 after purchasing an additional 25,498 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Valero Energy during the 4th quarter worth approximately $302,721,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Valero Energy by 14.5% during the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after purchasing an additional 411,630 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Shares of Valero Energy stock traded down $0.68 during trading hours on Friday, reaching $95.18. 3,432,020 shares of the company were exchanged, compared to its average volume of 3,258,198. Valero Energy Co. has a 1 year low of $60.69 and a 1 year high of $99.95. The company has a current ratio of 1.74, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $41,229.69, a P/E ratio of 19.19, a P/E/G ratio of 1.11 and a beta of 1.02.
Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Valero Energy had a return on equity of 10.30% and a net margin of 4.33%. The business had revenue of $26.39 billion for the quarter, compared to analyst estimates of $23.02 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company’s revenue was up 27.4% on a year-over-year basis. sell-side analysts predict that Valero Energy Co. will post 6.95 earnings per share for the current year.
Valero Energy announced that its board has authorized a share repurchase 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 typically a sign that the company’s management believes its shares are undervalued.
Several research analysts have recently weighed in on the company. JPMorgan Chase restated a “neutral” rating and set a $105.00 target price (up from $99.00) on shares of Valero Energy in a report on Tuesday, March 13th. Piper Jaffray restated a “hold” rating and set a $98.00 target price on shares of Valero Energy in a report on Monday, January 22nd. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Cowen reaffirmed a “buy” rating and set a $100.00 price target on shares of Valero Energy in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price target on shares of Valero Energy in a research report on Tuesday, January 30th. One 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. The stock has a consensus rating of “Hold” and an average price target of $93.65.
TRADEMARK VIOLATION WARNING: This piece was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/04/08/valero-energy-co-vlo-stake-increased-by-municipal-employees-retirement-system-of-michigan.html.
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.
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.