IMA Wealth Inc. cut its position in Valero Energy Co. (NYSE:VLO – Get Rating) by 4.8% in the third quarter, according to the latest disclosure to the Securities and Exchange Commission. The company owned his 45,623 shares of oil and gas company stock after selling his 2,286 shares during the quarter. Valero Energy accounts for his 1.3% of IMA Wealth Inc.’s investment portfolio, making it the 17th largest position. IMA Wealth Inc.’s holdings in Valero Energy were valued at $4,875,000 at the end of the most recent quarter.
Other hedge funds have also recently adjusted their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised his Valero Energy stake by 2,470.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 257 shares in oil and gas companies worth $27,000 after purchasing an additional 247 of his shares last quarter. HighMark Wealth Management LLC increased its stake in Valero Energy by 60.6% in the third quarter. HighMark Wealth Management LLC now owns 265 shares of oil and gas company stock worth $28,000 after purchasing an additional 100 shares last quarter. IAG Wealth Partners LLC purchased new shares in Valero Energy worth approximately $31,000 in the third quarter. Ronald Blue Trust Inc. increased its stake in Valero Energy by 56.3% in the third quarter. Ronald Blue Trust Inc. now owns 322 shares of oil and gas company valued at $34,000 after purchasing an additional 116 shares last quarter. Finally, Cambridge Trust Co. increased its stake in Valero Energy by 123.3% in the third quarter. The Cambridge Trust now owns 335 shares of the oil and gas company valued at $36,000 after purchasing another 185 shares last quarter. Hedge funds and other institutional investors own 79.28% of the company’s shares.
Valero Energy shares up 3.0%
NYSE VLO shares rose $3.98 to $136.26 in midday trading on Friday. The stock traded 1,183,365 shares with an average turnover of 3,714,841 shares. His 50-day moving average for this business is $134.90 and his 200-day moving average is $125.96. The company has a market capitalization of $50.57 billion, a P/E ratio of 4.54, a PEG ratio of 0.91 and a beta of 1.65. Valero Energy Co. has a 52-week low of $83.13 and a 52-week high of $150.39. The company has a quick ratio of 1.00, a current ratio of 1.38 and a debt to equity ratio of 0.41.
Valero Energy (NYSE:VLO – Get Rating) announced final results on Thursday, Jan. 26. Oil and gas companies posted earnings per share (EPS) of $8.45 for the quarter, beating consensus expectations of $7.45 by $1.00. The company posted revenue of $41.75 billion for the quarter, compared to consensus expectations of $43.31 billion. Valero Energy’s net profit margin was 6.54% and return on equity was 50.15%. Business revenue increased by 16.3% year-on-year. In the same quarter last year, the company posted his $2.47 earnings per share. As a group, the analyst expects Valero Energy Co. to post 24.34 EPS this year.
Valero Energy increases dividend
The company recently announced a quarterly dividend payable on Thursday, March 16th. Dividends of $1.02 per share will be issued to shareholders of record on Tuesday, February 14. This represents his $4.08 dividend and his 2.99% dividend yield on an annualized basis. This is an increase from Valero Energy’s previous quarterly dividend of $0.98. The ex-dividend date for this dividend is February 13 (Monday). Valero Energy’s payout percentage is currently 14.01%.
Analyst upgrades and downgrades
Many equity research analysts are heavily focused on equities these days. Wells Fargo & Company increased its price target on Valero Energy stock to $160.00 from $140.00 in its research notes on Friday, January 27. Morgan Stanley raised its price target for Valero Energy shares from $140.00 to $170.00 and gave the stock an “overweight” rating in its research notes on Friday, January 20. Goldman Sachs Group raised its price target for Valero Energy stock from $111.00 to $126.00 in its research notes on Thursday, January 19, giving the stock a sell rating. Barclays raised its price target on Valero Energy shares from $151.00 to $159.00, giving the stock an ‘overweight’ rating in its research notes on Friday 27th January. Finally, Mizuho raised its price target for Valero Energy shares to $170.00 from $157.00 in its research notes on Friday. 1 analyst assigned a sell rating, 1 analyst a hold rating, 10 analysts a buy rating, and 2 analysts assigned a strong buy rating to the company. Based on MarketBeat.com data, the stock has a consensus rating of “moderate buy” and a consensus target price of $151.38.
About Valero Energy
Valero Energy Corp. is engaged in the manufacturing and marketing of transportation fuels and other petrochemicals. It operates through its Refining, Ethanol and Renewable Diesel business segments. The Refining segment consists of refining operations, related marketing activities, and logistics assets that support the refining operations.
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