Public Employees Retirement Association of Colorado raised its holdings in Valero Energy Co. (NYSE:VLO) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,598 shares of the oil and gas company’s stock after acquiring an additional 2,486 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Valero Energy were worth $7,775,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Valero Energy by 4.3% during 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 last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Valero Energy by 0.7% during 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 last quarter. Prudential Financial Inc. raised its stake in shares of Valero Energy by 14.5% during 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 last quarter. Bank of Montreal Can raised its stake in shares of Valero Energy by 17.4% during 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 last quarter. Finally, Legal & General Group Plc raised its stake in shares of Valero Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 2,818,535 shares of the oil and gas company’s stock worth $216,838,000 after buying an additional 77,428 shares during the last quarter. 81.22% of the stock is owned by institutional investors.
Valero Energy Co. (NYSE:VLO) opened at $86.77 on Friday. Valero Energy Co. has a one year low of $60.69 and a one year high of $99.95. The firm has a market cap of $38,320.00, a PE ratio of 18.82, a P/E/G ratio of 1.13 and a beta of 0.99. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be issued a $0.80 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 3.69%. Valero Energy’s payout ratio is 60.74%.
Valero Energy announced that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently issued reports on VLO. Piper Jaffray Companies reaffirmed a “hold” rating and set a $78.00 price target on shares of Valero Energy in a research note on Friday, November 17th. Citigroup lifted their price target on Valero Energy from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Jefferies Group downgraded Valero Energy from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Cowen reaffirmed a “buy” rating and set a $90.00 price target on shares of Valero Energy in a research note on Friday, November 3rd. Finally, Standpoint Research downgraded Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $89.06.
In other Valero Energy news, Director Stephen M. Waters sold 1,000 shares of Valero Energy stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total value of $87,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip J. Pfeiffer sold 1,500 shares of Valero Energy stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $81.42, for a total value of $122,130.00. The disclosure for this sale can be found here. Insiders sold a total of 299,687 shares of company stock valued at $27,733,958 in the last 90 days. 0.45% of the stock is owned by company insiders.
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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.
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