Thornburg Investment Management Inc. Has $159.88 Million Stake in Valero Energy Corporation (VLO)
Thornburg Investment Management Inc. lifted its position in Valero Energy Corporation (NYSE:VLO) by 18.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,078,189 shares of the oil and gas company’s stock after purchasing an additional 325,883 shares during the period. Valero Energy comprises 1.1% of Thornburg Investment Management Inc.’s portfolio, making the stock its 29th largest holding. Thornburg Investment Management Inc. owned approximately 0.47% of Valero Energy worth $159,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Valero Energy by 2.8% in the second quarter. BlackRock Inc. now owns 39,298,010 shares of the oil and gas company’s stock worth $2,651,044,000 after purchasing an additional 1,080,617 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Valero Energy by 2.2% in the second quarter. Vanguard Group Inc. now owns 34,153,259 shares of the oil and gas company’s stock worth $2,303,979,000 after purchasing an additional 747,980 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Valero Energy by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 11,825,862 shares of the oil and gas company’s stock worth $797,793,000 after purchasing an additional 65,704 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Valero Energy by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 11,273,542 shares of the oil and gas company’s stock worth $867,273,000 after purchasing an additional 469,406 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Valero Energy by 4.2% during the second quarter. LSV Asset Management now owns 9,076,859 shares of the oil and gas company’s stock worth $612,324,000 after acquiring an additional 366,009 shares during the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.
In other Valero Energy news, CFO Michael S. Ciskowski sold 53,012 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the transaction, the chief financial officer now owns 67,413 shares in the company, valued at $4,913,059.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen M. Waters sold 1,500 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $68.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. Insiders have sold 58,268 shares of company stock valued at $4,263,601 in the last quarter. 0.45% of the stock is owned by company insiders.
Valero Energy Corporation (NYSE:VLO) traded up $0.10 during mid-day trading on Thursday, reaching $83.34. 2,752,800 shares of the company’s stock traded hands, compared to its average volume of 4,042,561. Valero Energy Corporation has a fifty-two week low of $60.35 and a fifty-two week high of $84.00. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $36,424.24, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.73 and a beta of 1.17.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.08. Valero Energy had a net margin of 2.33% and a return on equity of 9.87%. The business had revenue of $23.56 billion during the quarter, compared to analyst estimates of $19.42 billion. During the same quarter last year, the business earned $1.24 earnings per share. Valero Energy’s quarterly revenue was up 19.9% compared to the same quarter last year. research analysts anticipate that Valero Energy Corporation will post 4.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.80 annualized dividend and a yield of 3.36%. Valero Energy’s dividend payout ratio (DPR) is currently 60.48%.
VLO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada restated a “buy” rating and set a $77.00 target price on shares of Valero Energy in a research report on Thursday, August 31st. Citigroup upped their target price on shares of Valero Energy from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BidaskClub lowered shares of Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Macquarie restated a “neutral” rating on shares of Valero Energy in a research report on Monday, October 23rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven 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 $79.28.
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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