Advisor Group Inc. Sells 20,344 Shares of Valero Energy Co. (VLO)
Advisor Group Inc. cut its holdings in Valero Energy Co. (NYSE:VLO) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,130 shares of the oil and gas company’s stock after selling 20,344 shares during the period. Advisor Group Inc.’s holdings in Valero Energy were worth $6,540,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Independence Bank of Kentucky bought a new stake in Valero Energy in the fourth quarter worth $102,000. Parkside Financial Bank & Trust boosted its holdings in Valero Energy by 211.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 799 shares in the last quarter. Willingdon Wealth Management bought a new stake in Valero Energy in the third quarter worth $100,000. San Francisco Sentry Investment Group CA boosted its holdings in Valero Energy by 2,272.1% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 1,386 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in Valero Energy in the fourth quarter worth $135,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.
In other news, CFO Michael S. Ciskowski sold 45,657 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the completion of the transaction, the chief financial officer now owns 57,589 shares of the company’s stock, valued at $5,120,237.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael S. Ciskowski sold 251,530 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly 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. Insiders have sold 298,187 shares of company stock valued at $27,611,828 in the last ninety days. 0.45% of the stock is owned by company insiders.
Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.08. The business had revenue of $26.39 billion during the quarter, compared to analyst estimates of $23.02 billion. Valero Energy had a net margin of 4.33% and a return on equity of 10.30%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. sell-side analysts forecast that Valero Energy Co. will post 7.16 EPS for the current fiscal year.
Valero Energy declared that its board has initiated a stock buyback program on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s dividend payout ratio is currently 64.39%.
VLO has been the subject of a number of recent research reports. ValuEngine upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays boosted their target price on shares of Valero Energy from $86.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Credit Suisse Group started coverage on shares of Valero Energy in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $91.00 target price for the company. Citigroup boosted their target price on shares of Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, Standpoint Research lowered 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 report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $90.76.
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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