Victory Capital Management Inc. Has $21.03 Million Position in Valero Energy Co. (VLO)
Victory Capital Management Inc. increased its stake in shares of Valero Energy Co. (NYSE:VLO) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,825 shares of the oil and gas company’s stock after purchasing an additional 6,705 shares during the quarter. Victory Capital Management Inc.’s holdings in Valero Energy were worth $21,031,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Willingdon Wealth Management acquired a new position in Valero Energy during the 3rd quarter worth $100,000. Cable Hill Partners LLC boosted its position in shares of Valero Energy by 1,015.3% during the 3rd quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 1,198 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its position in shares of Valero Energy by 2,272.1% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 1,386 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Valero Energy during the 4th quarter worth about $135,000. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Valero Energy by 300.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,398 shares in the last quarter. 81.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Valero Energy Co. (NYSE:VLO) opened at $88.84 on Tuesday. Valero Energy Co. has a fifty-two week low of $60.69 and a fifty-two week high of $99.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24. The firm has a market capitalization of $38,870.00, a PE ratio of 19.27, a PEG ratio of 1.10 and a beta of 0.99.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be issued a $0.80 dividend. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, February 12th. Valero Energy’s payout ratio is presently 60.74%.
Valero Energy announced that its board has approved a stock buyback plan on Tuesday, January 23rd that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
VLO has been the subject of several analyst reports. Wells Fargo & Co reaffirmed an “outperform” rating and set a $87.00 price objective (up from $74.00) on shares of Valero Energy in a research report on Tuesday, October 17th. Zacks Investment Research raised Valero Energy from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Monday, October 16th. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of Valero Energy in a research report on Thursday, February 1st. Finally, UBS Group upped their price objective on Valero Energy from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Valero Energy currently has an average rating of “Hold” and an average price target of $89.06.
In other Valero Energy news, CFO Michael S. Ciskowski sold 251,530 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the completion of the sale, the chief financial officer now directly owns 309,119 shares of the company’s stock, valued at approximately $28,837,711.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen M. Waters sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $87.23, for a total value of $87,230.00. The disclosure for this sale can be found here. Insiders sold a total of 298,187 shares of company stock valued at $27,611,828 over the last three months. Company insiders own 0.45% of the company’s stock.
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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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