iA Global Asset Management Inc. Has $1.74 Million Stake in Valero Energy Corporation $VLO

iA Global Asset Management Inc. raised its stake in Valero Energy Corporation (NYSE:VLOFree Report) by 328.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,218 shares of the oil and gas company’s stock after purchasing an additional 7,832 shares during the period. iA Global Asset Management Inc.’s holdings in Valero Energy were worth $1,740,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VLO. Highline Wealth Partners LLC increased its stake in Valero Energy by 70.2% during the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Global Wealth Strategies & Associates purchased a new stake in Valero Energy in the 3rd quarter valued at about $34,000. GFG Capital LLC bought a new stake in Valero Energy during the second quarter worth $27,000. Hantz Financial Services Inc. boosted its position in Valero Energy by 1,277.8% in the second quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 230 shares during the last quarter. Finally, Evolution Wealth Management Inc. bought a new position in Valero Energy during the second quarter valued at about $43,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Valero Energy from $181.00 to $194.00 and gave the company a “buy” rating in a report on Friday, October 10th. JPMorgan Chase & Co. increased their price objective on Valero Energy from $197.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Morgan Stanley downgraded shares of Valero Energy from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $160.00 to $175.00 in a report on Friday, October 3rd. UBS Group reiterated a “buy” rating on shares of Valero Energy in a research report on Tuesday, January 6th. Finally, Bank of America reissued a “neutral” rating and issued a $195.00 price target (down previously from $198.00) on shares of Valero Energy in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

View Our Latest Research Report on Valero Energy

Key Valero Energy News

Here are the key news stories impacting Valero Energy this week:

Insiders Place Their Bets

In other news, CFO Jason W. Fraser sold 9,933 shares of Valero Energy stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $174.02, for a total value of $1,728,540.66. Following the sale, the chief financial officer directly owned 134,196 shares in the company, valued at approximately $23,352,787.92. This trade represents a 6.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Valero Energy Trading Up 0.1%

NYSE:VLO opened at $187.00 on Friday. The firm has a market capitalization of $57.04 billion, a P/E ratio of 39.04, a P/E/G ratio of 1.09 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $174.73 and a 200 day moving average of $162.60. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $194.35.

Valero Energy (NYSE:VLOGet Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.15 by $0.51. The firm had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Thursday, February 5th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, February 5th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. Valero Energy’s dividend payout ratio is currently 94.36%.

Valero Energy Company Profile

(Free Report)

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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Institutional Ownership by Quarter for Valero Energy (NYSE:VLO)

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