Clark Capital Management Group Inc. boosted its position in Valero Energy Co. (NYSE:VLO) by 57.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 516,662 shares of the oil and gas company’s stock after purchasing an additional 189,429 shares during the period. Valero Energy comprises approximately 1.5% of Clark Capital Management Group Inc.’s portfolio, making the stock its 13th biggest holding. Clark Capital Management Group Inc. owned 0.12% of Valero Energy worth $47,486,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Valero Energy by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after acquiring an additional 658,940 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Valero Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock worth $445,213,000 after acquiring an additional 72,930 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Valero Energy by 0.7% during the third 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 acquiring an additional 25,498 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Valero Energy during the fourth quarter worth $302,721,000. Finally, Prudential Financial Inc. lifted its position in shares of Valero Energy by 14.5% during the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after acquiring an additional 411,630 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.
VLO has been the topic of several recent research reports. Scotiabank restated a “buy” rating and set a $84.00 target price on shares of Valero Energy in a research report on Tuesday, November 14th. Barclays increased their target price on Valero Energy from $86.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. UBS Group increased their target price on Valero Energy from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Standpoint Research downgraded Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Thursday, November 16th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $78.00 target price on shares of Valero Energy in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. Valero Energy has an average rating of “Hold” and an average price target of $92.35.
Valero Energy (NYSE:VLO) last released its quarterly earnings results 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. The firm had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.30%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. equities research analysts forecast that Valero Energy Co. will post 7.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.43%. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is presently 34.63%.
Valero Energy declared that its board has approved a share buyback plan on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CFO Michael S. Ciskowski sold 45,657 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 57,589 shares of the company’s stock, valued at $5,120,237.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael S. Ciskowski sold 251,530 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total value of $23,465,233.70. Following the completion of the transaction, the chief financial officer now directly owns 309,119 shares in the company, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/14/valero-energy-co-vlo-shares-bought-by-clark-capital-management-group-inc.html.
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.
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.