First Allied Advisory Services Inc. reduced its holdings in Valero Energy Co. (NYSE:VLO) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,436 shares of the oil and gas company’s stock after selling 8,475 shares during the period. First Allied Advisory Services Inc.’s holdings in Valero Energy were worth $2,236,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp increased its position in Valero Energy by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,273,542 shares of the oil and gas company’s stock worth $867,273,000 after buying an additional 469,406 shares during the period. Schwab Charles Investment Management Inc. increased its position in Valero Energy by 0.7% in 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 buying an additional 25,498 shares during the period. Prudential Financial Inc. increased its position in 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 worth $250,174,000 after buying an additional 411,630 shares during the period. Bank of Montreal Can increased its position in 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 worth $294,188,000 after buying an additional 475,381 shares during the period. Finally, Wells Fargo & Company MN increased its position in 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 worth $269,338,000 after buying an additional 494,511 shares during the period. 81.03% of the stock is currently owned by institutional investors.
Shares of Valero Energy Co. (VLO) opened at $93.27 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24. The company has a market capitalization of $40,813.18, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.12 and a beta of 1.01. Valero Energy Co. has a one year low of $60.69 and a one year high of $99.95.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be paid a $0.80 dividend. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 3.43%. Valero Energy’s payout ratio is currently 34.63%.
Valero Energy declared that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts have commented on VLO shares. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen reaffirmed a “buy” rating and issued a $100.00 price target on shares of Valero Energy in a research report on Thursday, February 1st. UBS Group lifted their price target on Valero Energy from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Royal Bank of Canada reissued a “buy” rating and set a $110.00 price objective on shares of Valero Energy in a report on Tuesday, January 30th. Finally, Macquarie reissued a “neutral” rating on shares of Valero Energy in a report on Monday, October 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $90.12.
In related news, Director Stephen M. Waters sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total value of $87,230.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael S. Ciskowski sold 45,657 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $88.91, for a total value of $4,059,363.87. Following the completion of the sale, the chief financial officer now directly owns 57,589 shares in the company, valued at approximately $5,120,237.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,187 shares of company stock worth $27,611,828. 0.45% of the stock is owned by insiders.
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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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