Wetherby Asset Management Inc. Has $688,000 Holdings in Valero Energy Co. (VLO)
Wetherby Asset Management Inc. grew its stake in Valero Energy Co. (NYSE:VLO) by 19.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,487 shares of the oil and gas company’s stock after acquiring an additional 1,232 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Valero Energy were worth $688,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in VLO. Stifel Financial Corp boosted its holdings in Valero Energy by 4,916.0% in the third quarter. Stifel Financial Corp now owns 1,378,101 shares of the oil and gas company’s stock worth $106,014,000 after acquiring an additional 1,350,627 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Valero Energy by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after acquiring an additional 658,940 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Valero Energy by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,930,471 shares of the oil and gas company’s stock worth $269,338,000 after acquiring an additional 494,511 shares in the last quarter. Bank of Montreal Can boosted its holdings in Valero Energy by 17.4% in the fourth quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock worth $294,188,000 after acquiring an additional 475,381 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Valero Energy by 14.5% in the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after acquiring an additional 411,630 shares in the last quarter. 78.95% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on VLO shares. Zacks Investment Research downgraded Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Scotiabank reissued a “buy” rating and issued a $84.00 target price on shares of Valero Energy in a report on Tuesday, November 14th. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Standpoint Research downgraded Valero Energy from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Thursday, November 16th. Finally, Credit Suisse Group assumed coverage on Valero Energy in a report on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $90.12.
Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. The company had revenue of $26.39 billion during the quarter, compared to analysts’ expectations of $23.02 billion. Valero Energy had a return on equity of 10.55% and a net margin of 4.33%. Valero Energy’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. analysts predict that Valero Energy Co. will post 7.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, February 12th. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is 69.41%.
Valero Energy announced that its board has approved a share repurchase plan on Tuesday, January 23rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, CFO Michael S. Ciskowski sold 45,657 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 57,589 shares in the company, valued at $5,120,237.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael S. Ciskowski sold 251,530 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total value of $23,465,233.70. Following the sale, the chief financial officer now owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,187 shares of company stock valued at $27,611,828. 0.45% of the stock is owned by company insiders.
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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