UBS Asset Management Americas Inc. cut its holdings in shares of Valero Energy Co. (NYSE:VLO) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,143,570 shares of the oil and gas company’s stock after selling 255,965 shares during the period. UBS Asset Management Americas Inc.’s holdings in Valero Energy were worth $197,016,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Stifel Financial Corp raised its stake in shares of Valero Energy by 4,916.0% in the 3rd quarter. Stifel Financial Corp now owns 1,378,101 shares of the oil and gas company’s stock valued at $106,014,000 after purchasing an additional 1,350,627 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $1,096,715,000 after purchasing an additional 658,940 shares during the period. Wells Fargo & Company MN raised its stake in shares of Valero Energy by 20.3% in the 4th quarter. Wells Fargo & Company MN now owns 2,930,471 shares of the oil and gas company’s stock valued at $269,338,000 after purchasing an additional 494,511 shares during the period. Bank of Montreal Can raised its stake in shares of Valero Energy by 17.4% in the 4th quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock valued at $294,188,000 after purchasing an additional 475,381 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Valero Energy by 14.5% in the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock valued at $250,174,000 after purchasing an additional 411,630 shares during the period. Hedge funds and other institutional investors own 81.03% of the company’s stock.
In related news, CFO Michael S. Ciskowski sold 251,530 shares of Valero Energy stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the completion of the transaction, the chief financial officer now owns 309,119 shares in the company, valued at $28,837,711.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael S. Ciskowski sold 45,657 shares of Valero Energy stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total value of $4,059,363.87. Following the transaction, the chief financial officer now owns 57,589 shares of the company’s stock, valued at approximately $5,120,237.99. The disclosure for this sale can be found here. Insiders have sold 298,187 shares of company stock valued at $27,611,828 in the last quarter. 0.45% of the stock is currently owned by corporate insiders.
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, beating analysts’ consensus estimates of $1.08 by $0.08. The business had revenue of $26.39 billion for the quarter, compared to the consensus estimate of $23.02 billion. Valero Energy had a return on equity of 10.55% and a net margin of 4.33%. Valero Energy’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 earnings per share. research analysts expect that Valero Energy Co. will post 7.13 EPS for the current year.
Valero Energy declared that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be given a $0.80 dividend. The ex-dividend date is Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s payout ratio is currently 34.63%.
Several analysts have issued reports 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. UBS Group lifted their price target on Valero Energy from $80.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. 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. Finally, Macquarie reissued a “neutral” rating on shares of Valero Energy in a research note on Monday, October 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $90.12.
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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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