Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp trimmed its stake in Valero Energy Co. (NYSE:VLO) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 310,300 shares of the oil and gas company’s stock after selling 12,200 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.07% of Valero Energy worth $28,787,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. KHP Capital LLC bought a new position in Valero Energy in the first quarter valued at approximately $104,000. SWS Partners bought a new position in Valero Energy in the fourth quarter valued at approximately $127,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Valero Energy in the first quarter valued at approximately $135,000. Centaurus Financial Inc. bought a new position in Valero Energy in the first quarter valued at approximately $150,000. Finally, Bedel Financial Consulting Inc. bought a new position in Valero Energy in the first quarter valued at approximately $160,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.
VLO has been the subject of a number of analyst reports. Howard Weil downgraded Valero Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, April 11th. Morgan Stanley raised their price target on Valero Energy from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, April 16th. Wells Fargo & Co lifted their target price on Valero Energy from $122.00 to $146.00 and gave the stock a “positive” rating in a research note on Tuesday, May 29th. Credit Suisse Group reiterated a “neutral” rating and set a $102.00 target price on shares of Valero Energy in a research note on Wednesday, March 7th. Finally, Deutsche Bank reduced their target price on Valero Energy from $98.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve 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 $108.65.
NYSE:VLO opened at $116.54 on Tuesday. The company has a market cap of $49.65 billion, a P/E ratio of 23.50, a PEG ratio of 1.80 and a beta of 1.02. The company has a quick ratio of 1.09, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. Valero Energy Co. has a 1-year low of $63.77 and a 1-year high of $126.98.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.07. The business had revenue of $264.90 million during the quarter, compared to analysts’ expectations of $23.35 billion. Valero Energy had a return on equity of 10.61% and a net margin of 4.29%. The firm’s revenue for the quarter was down 98.8% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. equities research analysts forecast that Valero Energy Co. will post 7.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Thursday, May 17th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, May 16th. This represents a $3.20 annualized dividend and a yield of 2.75%. Valero Energy’s payout ratio is currently 64.52%.
In related news, insider Joseph W. Gorder sold 85,493 shares of Valero Energy stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $121.23, for a total transaction of $10,364,316.39. Following the completion of the sale, the insider now directly owns 524,864 shares of the company’s stock, valued at approximately $63,629,262.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen M. Waters sold 1,000 shares of Valero Energy stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $121.04, for a total value of $121,040.00. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
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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