Valero Energy (VLO) Position Lifted by Glen Harbor Capital Management LLC
Glen Harbor Capital Management LLC boosted its holdings in Valero Energy (NYSE:VLO) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,920 shares of the oil and gas company’s stock after acquiring an additional 7,456 shares during the period. Glen Harbor Capital Management LLC’s holdings in Valero Energy were worth $18,361,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Transamerica Financial Advisors Inc. lifted its holdings in Valero Energy by 7.6% in the first quarter. Transamerica Financial Advisors Inc. now owns 34,449 shares of the oil and gas company’s stock valued at $3,196,000 after acquiring an additional 2,448 shares during the last quarter. Pegasus Partners Ltd. lifted its holdings in Valero Energy by 17.1% in the first quarter. Pegasus Partners Ltd. now owns 17,803 shares of the oil and gas company’s stock valued at $1,652,000 after acquiring an additional 2,595 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Valero Energy in the first quarter valued at approximately $442,000. Haverford Trust Co. acquired a new position in Valero Energy in the first quarter valued at approximately $206,000. Finally, Private Advisor Group LLC lifted its holdings in Valero Energy by 20.5% in the first quarter. Private Advisor Group LLC now owns 13,995 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 2,382 shares during the last quarter. Hedge funds and other institutional investors own 77.79% of the company’s stock.
A number of research analysts recently commented on VLO shares. Scotia Howard Weill reiterated a “sector perform” rating on shares of Valero Energy in a report on Wednesday, April 11th. Howard Weil cut Valero Energy from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 11th. Barclays upped their price target on Valero Energy from $122.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 27th. Cowen restated a “buy” rating and set a $100.00 price target on shares of Valero Energy in a research note on Thursday, February 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $110.00 price target on shares of Valero Energy in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.18.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 26th. The oil and gas company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.07. The business had revenue of $264.90 million for the quarter, compared to analysts’ expectations of $23.35 billion. Valero Energy had a return on equity of 10.61% and a net margin of 4.29%. The company’s revenue for the quarter was down 98.8% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. analysts anticipate that Valero Energy will post 7.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Thursday, May 17th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, May 16th. Valero Energy’s dividend payout ratio (DPR) is presently 64.52%.
Valero Energy declared that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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