Flinton Capital Management LLC boosted its position in Valero Energy Co. (NYSE:VLO) by 7.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 333,312 shares of the oil and gas company’s stock after purchasing an additional 22,484 shares during the quarter. Valero Energy comprises about 1.0% of Flinton Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Flinton Capital Management LLC’s holdings in Valero Energy were worth $30,635,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VLO. Raymond James Financial Services Advisors Inc. boosted its stake in Valero Energy by 6.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 127,272 shares of the oil and gas company’s stock valued at $9,791,000 after purchasing an additional 7,519 shares during the period. Victory Capital Management Inc. boosted its stake in Valero Energy by 64.1% in the 3rd quarter. Victory Capital Management Inc. now owns 222,120 shares of the oil and gas company’s stock valued at $17,088,000 after purchasing an additional 86,739 shares during the period. American Century Companies Inc. boosted its stake in Valero Energy by 104.4% in the 3rd quarter. American Century Companies Inc. now owns 477,004 shares of the oil and gas company’s stock valued at $36,696,000 after purchasing an additional 243,656 shares during the period. Sei Investments Co. boosted its stake in Valero Energy by 24.5% in the 3rd quarter. Sei Investments Co. now owns 119,437 shares of the oil and gas company’s stock valued at $9,188,000 after purchasing an additional 23,514 shares during the period. Finally, Ballentine Partners LLC bought a new stake in Valero Energy in the 3rd quarter valued at $240,000. Institutional investors and hedge funds own 80.10% of the company’s stock.
In other Valero Energy news, CFO Michael S. Ciskowski sold 45,657 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 57,589 shares of the company’s stock, valued at approximately $5,120,237.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen M. Waters sold 1,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 298,187 shares of company stock valued at $27,611,828. 0.45% of the stock is owned by corporate insiders.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Valero Energy had a return on equity of 10.30% and a net margin of 4.33%. The business had revenue of $26.39 billion during the quarter, compared to the consensus estimate of $23.02 billion. During the same period in the prior year, the company earned $0.81 EPS. Valero Energy’s revenue for the quarter was up 27.4% on a year-over-year basis. analysts predict that Valero Energy Co. will post 7.16 earnings per share for the current year.
Valero Energy declared that its Board of Directors has initiated a share repurchase program on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th were given a dividend of $0.80 per share. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, February 12th. Valero Energy’s dividend payout ratio is currently 34.63%.
VLO has been the subject of a number of recent analyst reports. Citigroup upped their target price on Valero Energy from $76.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Bank of America upped their target price on Valero Energy from $102.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies reiterated a “hold” rating and set a $98.00 target price on shares of Valero Energy in a research report on Monday, January 22nd. Cowen reiterated a “buy” rating and set a $100.00 target price on shares of Valero Energy in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $110.00 target price on shares of Valero Energy in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $90.76.
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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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