Valero Energy Co. (VLO) Shares Bought by D.A. Davidson & CO.
D.A. Davidson & CO. lifted its holdings in Valero Energy Co. (NYSE:VLO) by 17.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,159 shares of the oil and gas company’s stock after purchasing an additional 1,921 shares during the quarter. D.A. Davidson & CO.’s holdings in Valero Energy were worth $1,209,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in shares of Valero Energy in the fourth quarter valued at about $102,000. Parkside Financial Bank & Trust raised its holdings in shares of Valero Energy by 211.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 799 shares during the last quarter. Willingdon Wealth Management bought a new position in shares of Valero Energy in the third quarter valued at about $100,000. Cable Hill Partners LLC raised its holdings in shares of Valero Energy by 1,015.3% in the third quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 1,198 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA increased its position in Valero Energy by 2,272.1% in 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 period. 78.95% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on VLO shares. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays lifted 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 started coverage on Valero Energy in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $91.00 price objective for the company. Standpoint Research lowered 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. Finally, Citigroup boosted their target price on Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued 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 price target of $90.12.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Valero Energy had a return on equity of 10.55% and a net margin of 4.33%. The business had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. During the same quarter in the previous year, the business posted $0.81 EPS. Valero Energy’s revenue for the quarter was up 27.4% on a year-over-year basis. analysts forecast that Valero Energy Co. will post 7.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, February 12th. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s payout ratio is 69.41%.
Valero Energy announced that its board has approved a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, Director Stephen M. Waters sold 1,000 shares of Valero Energy stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total transaction of $87,230.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael S. Ciskowski sold 45,657 shares of Valero Energy stock in a transaction dated Wednesday, December 20th. The shares were 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 in the company, valued at approximately $5,120,237.99. The disclosure for this sale can be found here. Insiders have sold a total of 298,187 shares of company stock worth $27,611,828 in the last quarter. 0.45% of the stock is currently owned by company insiders.
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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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