King Luther Capital Management Corp purchased a new position in Valero Energy (NYSE:VLO) in the first quarter, HoldingsChannel reports. The fund purchased 3,906 shares of the oil and gas company’s stock, valued at approximately $362,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Valero Energy by 5.8% in the fourth 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 purchasing an additional 658,940 shares in the last quarter. LSV Asset Management lifted its position in shares of Valero Energy by 0.5% in the first quarter. LSV Asset Management now owns 8,934,495 shares of the oil and gas company’s stock worth $828,853,000 after purchasing an additional 41,783 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Valero Energy by 1.5% in the fourth 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 in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Valero Energy by 6.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,710,882 shares of the oil and gas company’s stock worth $344,259,000 after purchasing an additional 228,702 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Valero Energy in the fourth quarter worth approximately $302,721,000. 77.79% of the stock is owned by institutional investors and hedge funds.
Shares of Valero Energy opened at $122.06 on Tuesday, MarketBeat.com reports. Valero Energy has a 12 month low of $60.69 and a 12 month high of $122.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.70. The company has a market cap of $51.96 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.85 and a beta of 1.02.
Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.93 by $0.07. Valero Energy had a return on equity of 10.61% and a net margin of 4.29%. The company had revenue of $264.90 million for the quarter, compared to the consensus estimate of $23.35 billion. During the same quarter last year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was down 98.8% compared to the same quarter last year. sell-side analysts anticipate that Valero Energy will post 7.23 earnings per share for the current fiscal year.
Valero Energy declared that its Board of Directors has approved a stock 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 reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Thursday, May 17th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, May 16th. This represents a $3.20 annualized dividend and a yield of 2.62%. Valero Energy’s dividend payout ratio (DPR) is presently 64.52%.
A number of analysts have recently issued reports on VLO shares. Piper Jaffray Companies reissued a “hold” rating and issued a $98.00 price target on shares of Valero Energy in a research report on Monday, January 22nd. Citigroup raised their price objective on shares of Valero Energy from $76.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Bank of America raised their price objective on shares of Valero Energy from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price objective on shares of Valero Energy in a research report on Tuesday, January 30th. Finally, Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of Valero Energy in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $104.18.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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