Covenant Multifamily Offices LLC Reduces Position in Valero Energy Co. (VLO)
Covenant Multifamily Offices LLC cut its position in shares of Valero Energy Co. (NYSE:VLO) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,997 shares of the oil and gas company’s stock after selling 2,694 shares during the period. Valero Energy makes up about 3.6% of Covenant Multifamily Offices LLC’s portfolio, making the stock its 4th biggest holding. Covenant Multifamily Offices LLC’s holdings in Valero Energy were worth $5,514,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in VLO. Cetera Investment Advisers raised its position in Valero Energy by 6.2% during the second quarter. Cetera Investment Advisers now owns 4,525 shares of the oil and gas company’s stock valued at $304,000 after purchasing an additional 265 shares during the period. BKD Wealth Advisors LLC raised its position in Valero Energy by 8.3% during the fourth quarter. BKD Wealth Advisors LLC now owns 7,092 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 541 shares during the period. Daiwa SB Investments Ltd. raised its position in Valero Energy by 26.1% during the fourth quarter. Daiwa SB Investments Ltd. now owns 2,660 shares of the oil and gas company’s stock valued at $244,000 after purchasing an additional 550 shares during the period. BB&T Investment Services Inc. raised its position in Valero Energy by 6.5% during the third quarter. BB&T Investment Services Inc. now owns 10,276 shares of the oil and gas company’s stock valued at $791,000 after purchasing an additional 630 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Valero Energy by 1.9% in the third quarter. GSA Capital Partners LLP now owns 34,781 shares of the oil and gas company’s stock worth $2,676,000 after buying an additional 643 shares during the period. 81.03% of the stock is owned by institutional investors.
In related news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total value of $87,230.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael S. Ciskowski sold 45,657 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total value of $4,059,363.87. Following the completion of the transaction, the chief financial officer now directly owns 57,589 shares in the company, valued at approximately $5,120,237.99. The disclosure for this sale can be found here. In the last three months, insiders sold 298,187 shares of company stock worth $27,611,828. 0.45% of the stock is owned by insiders.
Valero Energy Co. (NYSE:VLO) opened at $89.48 on Wednesday. Valero Energy Co. has a 52 week low of $60.69 and a 52 week high of $99.95. The stock has a market capitalization of $38,874.70, a P/E ratio of 9.68, a P/E/G ratio of 1.11 and a beta of 0.99. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Valero Energy had a return on equity of 10.55% and a net margin of 4.33%. The company had revenue of $26.39 billion for the quarter, compared to analysts’ expectations of $23.02 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Valero Energy’s revenue was up 27.4% compared to the same quarter last year. analysts expect that Valero Energy Co. will post 7.19 EPS for the current year.
Valero Energy declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
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 paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 3.58%. This is a boost from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is 34.63%.
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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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