Cornerstone Capital Management Holdings LLC. raised its position in Valero Energy Co. (NYSE:VLO) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,561 shares of the oil and gas company’s stock after acquiring an additional 34,186 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.11% of Valero Energy worth $45,086,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VLO. Raymond James Financial Services Advisors Inc. grew its position 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 acquiring an additional 7,519 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Valero Energy by 64.1% during the third quarter. Victory Capital Management Inc. now owns 222,120 shares of the oil and gas company’s stock worth $17,088,000 after buying an additional 86,739 shares in the last quarter. American Century Companies Inc. grew its position in shares of Valero Energy by 104.4% during the third quarter. American Century Companies Inc. now owns 477,004 shares of the oil and gas company’s stock worth $36,696,000 after buying an additional 243,656 shares in the last quarter. Sei Investments Co. grew its position in shares of Valero Energy by 24.5% during the third quarter. Sei Investments Co. now owns 119,437 shares of the oil and gas company’s stock worth $9,188,000 after buying an additional 23,514 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Valero Energy during the third quarter worth about $240,000. 80.10% of the stock is owned by institutional investors.
Shares of Valero Energy Co. (VLO) opened at $92.69 on Tuesday. 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. Valero Energy Co. has a 52 week low of $60.69 and a 52 week high of $99.95. 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 authorized a share buyback plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th were paid a dividend of $0.80 per share. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 3.45%. Valero Energy’s payout ratio is presently 64.39%.
In related news, CFO Michael S. Ciskowski sold 251,530 shares of the business’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 transaction 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 $28,837,711.51. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael S. Ciskowski sold 45,657 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 57,589 shares of the company’s stock, valued at approximately $5,120,237.99. The disclosure for this sale can be found here. In 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 company insiders.
VLO has been the subject of a number of analyst reports. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays boosted their price objective on Valero Energy from $86.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Credit Suisse Group initiated coverage on Valero Energy in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 price objective for the company. Citigroup boosted their price objective on Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Standpoint Research downgraded Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research report on Thursday, November 16th. One 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. The company currently has an average rating of “Hold” and an average target price of $90.76.
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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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