Douglas Lane & Associates LLC Decreases Holdings in Valero Energy Co. (VLO)
Douglas Lane & Associates LLC reduced its stake in Valero Energy Co. (NYSE:VLO) by 3.6% during the fourth quarter, Holdings Channel reports. The fund owned 572,151 shares of the oil and gas company’s stock after selling 21,387 shares during the period. Douglas Lane & Associates LLC’s holdings in Valero Energy were worth $52,586,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VLO. Mutual of America Capital Management LLC grew its stake in shares of Valero Energy by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 54,509 shares of the oil and gas company’s stock worth $3,677,000 after acquiring an additional 649 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Valero Energy by 26.7% in the second quarter. Van ECK Associates Corp now owns 10,789 shares of the oil and gas company’s stock worth $728,000 after acquiring an additional 2,275 shares during the last quarter. FMR LLC grew its stake in shares of Valero Energy by 146.1% in the second quarter. FMR LLC now owns 2,224,590 shares of the oil and gas company’s stock worth $150,071,000 after acquiring an additional 1,320,524 shares during the last quarter. ETRADE Capital Management LLC grew its stake in shares of Valero Energy by 1.8% in the second quarter. ETRADE Capital Management LLC now owns 10,407 shares of the oil and gas company’s stock worth $702,000 after acquiring an additional 184 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Valero Energy by 20.4% in the second quarter. Cibc World Markets Corp now owns 63,194 shares of the oil and gas company’s stock worth $4,263,000 after acquiring an additional 10,693 shares during the last quarter. 81.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on VLO shares. Zacks Investment Research cut Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Scotiabank reissued a “buy” rating and issued a $84.00 target price on shares of Valero Energy in a research note on Tuesday, November 14th. Standpoint Research cut Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Thursday, November 16th. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Citigroup increased their price objective on Valero Energy from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $84.94.
Valero Energy Co. (NYSE VLO) opened at $97.66 on Thursday. Valero Energy Co. has a 1-year low of $60.69 and a 1-year high of $99.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24. The firm has a market capitalization of $43,130.00, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.25 and a beta of 1.20.
Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.08. Valero Energy had a return on equity of 9.87% and a net margin of 2.33%. The company had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $19.42 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. Valero Energy’s revenue was up 19.9% on a year-over-year basis. equities research analysts forecast that Valero Energy Co. will post 4.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be issued a $0.80 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.28%. Valero Energy’s dividend payout ratio is currently 60.74%.
Valero Energy announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 23rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
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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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