California State Teachers Retirement System increased its stake in shares of Valero Energy Co. (NYSE:VLO) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 891,099 shares of the oil and gas company’s stock after acquiring an additional 43,633 shares during the period. California State Teachers Retirement System owned 0.20% of Valero Energy worth $81,901,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Willingdon Wealth Management acquired a new position in shares of Valero Energy during the 3rd quarter valued at about $100,000. Independence Bank of Kentucky acquired a new position in shares of Valero Energy during the 4th quarter valued at about $102,000. Parkside Financial Bank & Trust increased its holdings in shares of Valero Energy by 211.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 799 shares during the last quarter. San Francisco Sentry Investment Group CA increased its holdings in shares of Valero Energy by 2,272.1% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 1,386 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Valero Energy during the 4th quarter valued at about $135,000. 80.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Valero Energy Co. (NYSE VLO) opened at $92.69 on Tuesday. Valero Energy Co. has a 52 week low of $60.69 and a 52 week high of $99.95. The firm has a market capitalization of $40,560.00, a P/E ratio of 18.65, a P/E/G ratio of 1.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.74.
Valero Energy announced that its Board of Directors has approved a share buyback 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 buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio (DPR) is currently 64.39%.
In other Valero Energy news, CFO Michael S. Ciskowski sold 251,530 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total value of $23,465,233.70. Following the completion of the sale, the chief financial officer now owns 309,119 shares in the company, valued at approximately $28,837,711.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Waters sold 1,000 shares of the firm’s stock in a transaction that occurred on 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. Insiders sold a total of 298,187 shares of company stock valued at $27,611,828 in the last quarter. Corporate insiders own 0.45% of the company’s stock.
VLO has been the topic of a number of analyst reports. Scotiabank reissued a “buy” rating and set a $84.00 price objective on shares of Valero Energy in a report on Tuesday, November 14th. Cowen reissued a “buy” rating and set a $100.00 price objective on shares of Valero Energy in a report on Thursday, February 1st. 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. Bank of America increased their price objective on Valero Energy from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Valero Energy has an average rating of “Hold” and a consensus target price of $90.76.
Valero Energy Company 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.
Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLO).
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.