Meiji Yasuda Asset Management Co Ltd. Has $2.40 Million Position in Valero Energy Corporation $VLO

Meiji Yasuda Asset Management Co Ltd. raised its position in Valero Energy Corporation (NYSE:VLO) by 846.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,752 shares of the oil and gas company’s stock after purchasing an additional 13,194 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Valero Energy were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Valero Energy by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,273,517 shares of the oil and gas company’s stock valued at $897,869,000 after buying an additional 249,195 shares during the last quarter. Barclays PLC raised its holdings in Valero Energy by 5.3% in the 3rd quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company’s stock valued at $705,502,000 after acquiring an additional 209,597 shares during the period. Legal & General Group Plc raised its holdings in Valero Energy by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,904,181 shares of the oil and gas company’s stock valued at $324,206,000 after acquiring an additional 43,237 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Valero Energy in the 3rd quarter valued at about $275,239,000. Finally, Raymond James Financial Inc. raised its holdings in Valero Energy by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,007,335 shares of the oil and gas company’s stock valued at $171,509,000 after acquiring an additional 22,322 shares during the period. 78.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VLO. TD Cowen increased their price target on shares of Valero Energy from $255.00 to $276.00 and gave the company a “hold” rating in a report on Monday, May 4th. Morgan Stanley increased their price target on shares of Valero Energy from $182.00 to $222.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Citigroup raised their price target on shares of Valero Energy from $246.00 to $259.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their price target on shares of Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, Zacks Research raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.94.

Valero Energy Price Performance

VLO stock opened at $247.08 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 12 month low of $125.10 and a 12 month high of $263.75. The firm has a market cap of $73.36 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.36 and a beta of 0.58. The company’s 50-day moving average price is $241.89 and its two-hundred day moving average price is $204.54.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The company had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts anticipate that Valero Energy Corporation will post 26.51 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, May 21st. Valero Energy’s payout ratio is 34.88%.

Insider Buying and Selling at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $238.60, for a total transaction of $95,440.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.