Algert Global LLC reduced its holdings in shares of Valero Energy Co. (NYSE:VLO) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,327 shares of the oil and gas company’s stock after selling 1,134 shares during the period. Algert Global LLC’s holdings in Valero Energy were worth $2,787,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Willingdon Wealth Management purchased a new position in Valero Energy during the third quarter worth about $100,000. Cable Hill Partners LLC boosted its holdings in Valero Energy by 1,015.3% during the third quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,198 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its holdings in Valero Energy by 2,272.1% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 1,386 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Valero Energy during the fourth quarter worth about $135,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in Valero Energy by 300.6% during the third quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,398 shares during the last quarter. Hedge funds and other institutional investors own 81.40% of the company’s stock.
Shares of Valero Energy Co. (VLO) opened at $94.69 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.24 and a current ratio of 1.91. The firm has a market cap of $41,820.00, a P/E ratio of 20.54, a P/E/G ratio of 1.18 and a beta of 1.20. Valero Energy Co. has a twelve month low of $60.69 and a twelve month high of $99.95.
Valero Energy declared that its board has approved a share buyback program on Tuesday, January 23rd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Monday, February 12th. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is 60.74%.
In other Valero Energy news, CFO Michael S. Ciskowski sold 251,530 shares of the business’s stock in a transaction that occurred 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 owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen M. Waters sold 1,000 shares of the business’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 transaction of $87,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 299,687 shares of company stock worth $27,733,958 in the last ninety days. 0.45% of the stock is currently owned by insiders.
Several analysts have commented on the stock. Cowen reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a research report on Thursday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Valero Energy in a research report on Tuesday. Citigroup lifted their price objective on shares of Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Bank of America lifted their price objective on shares of Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. Valero Energy currently has a consensus rating of “Hold” and a consensus target price of $87.33.
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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.
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