Valero Energy Co. (VLO) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Valero Energy Co. (NYSE:VLO) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,858 shares of the oil and gas company’s stock after acquiring an additional 1,607 shares during the quarter. CIBC Asset Management Inc’s holdings in Valero Energy were worth $4,031,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in VLO. Shelton Capital Management acquired a new stake in Valero Energy in the second quarter worth approximately $272,000. Janus Henderson Group PLC raised its stake in Valero Energy by 1,780.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,127,141 shares of the oil and gas company’s stock valued at $76,039,000 after purchasing an additional 1,067,201 shares during the period. Cubist Systematic Strategies LLC raised its stake in Valero Energy by 72.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,383 shares of the oil and gas company’s stock valued at $1,712,000 after purchasing an additional 10,661 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Valero Energy during the 2nd quarter valued at $1,342,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Valero Energy by 2.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 119,753 shares of the oil and gas company’s stock worth $8,078,000 after acquiring an additional 3,408 shares during the last quarter. 81.03% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Wednesday. Cowen reiterated a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a report on Thursday, February 1st. Royal Bank of Canada restated a “buy” rating and set a $110.00 price target on shares of Valero Energy in a report on Tuesday, January 30th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $78.00 price target on shares of Valero Energy in a report on Friday, November 17th. One equities research 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 company currently has an average rating of “Hold” and an average target price of $90.12.

In other news, Director Stephen M. Waters sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $87.23, for a total transaction of $87,230.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael S. Ciskowski sold 251,530 shares of the business’s 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 transaction, the chief financial officer now owns 309,119 shares in the company, valued at $28,837,711.51. The disclosure for this sale can be found here. Insiders sold a total of 298,187 shares of company stock worth $27,611,828 over the last ninety days. 0.45% of the stock is currently owned by insiders.

Shares of Valero Energy Co. (NYSE:VLO) traded down $0.33 during mid-day trading on Thursday, reaching $92.30. 1,661,892 shares of the company’s stock were exchanged, compared to its average volume of 3,516,563. Valero Energy Co. has a 1 year low of $60.69 and a 1 year high of $99.95. The company has a market capitalization of $40,530.00, a PE ratio of 20.02, a PEG ratio of 1.07 and a beta of 0.99. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results 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. The company had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a net margin of 3.66% and a return on equity of 16.72%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period last year, the firm posted $0.81 earnings per share. analysts forecast that Valero Energy Co. will post 7.19 EPS for the current year.

The business also recently disclosed 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. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, February 12th. Valero Energy’s payout ratio is currently 69.41%.

Valero Energy declared that its board has authorized a stock repurchase program on Tuesday, January 23rd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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.

Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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