Valero Energy Co. (VLO) Stake Decreased by AGF Investments Inc.
AGF Investments Inc. reduced its position in Valero Energy Co. (NYSE:VLO) by 29.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 73,981 shares of the oil and gas company’s stock after selling 30,482 shares during the quarter. AGF Investments Inc.’s holdings in Valero Energy were worth $6,800,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in VLO. Arrowstreet Capital Limited Partnership bought a new stake in shares of Valero Energy in the 2nd quarter valued at about $1,342,000. Koch Industries Inc. boosted its holdings in shares of Valero Energy by 4,447.1% in the 2nd quarter. Koch Industries Inc. now owns 209,077 shares of the oil and gas company’s stock valued at $206,000 after buying an additional 204,479 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Valero Energy by 34.5% in the 2nd quarter. Advisory Services Network LLC now owns 5,220 shares of the oil and gas company’s stock valued at $352,000 after buying an additional 1,340 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Valero Energy by 6.2% in the 2nd quarter. Cetera Investment Advisers now owns 4,525 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 265 shares in the last quarter. Finally, Navellier & Associates Inc bought a new stake in shares of Valero Energy in the 2nd quarter valued at about $422,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
In other Valero Energy news, CFO Michael S. Ciskowski sold 251,530 shares of the firm’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 transaction of $23,465,233.70. Following the completion of the transaction, the chief financial officer now directly owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael S. Ciskowski sold 45,657 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the transaction, the chief financial officer now directly owns 57,589 shares of the company’s stock, valued at $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 valued at $27,611,828 over the last three months. 0.45% of the stock is currently owned by insiders.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Valero Energy had a net margin of 4.33% and a return on equity of 10.55%. The company had revenue of $26.39 billion during the quarter, compared to analyst estimates of $23.02 billion. During the same period last year, the firm posted $0.81 EPS. Valero Energy’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities analysts predict that Valero Energy Co. will post 7.19 earnings per share for the current fiscal year.
Valero Energy declared that its board has initiated a share repurchase program on Tuesday, January 23rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 12th. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.45%. Valero Energy’s dividend payout ratio (DPR) is currently 69.41%.
A number of analysts recently commented on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $78.00 target price on shares of Valero Energy in a research note on Friday, November 17th. Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Wednesday. Cowen reiterated a “buy” rating and issued a $90.00 target price on shares of Valero Energy in a research note on Friday, November 3rd. Standpoint Research cut shares of Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Thursday, November 16th. Finally, Credit Suisse Group assumed coverage on shares of Valero Energy in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $91.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $90.12.
Valero Energy 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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