CIBC Asset Management Inc Has $8 Million Holdings in Valero Energy Co. (NYSE:VLO)

CIBC Asset Management Inc lifted its holdings in Valero Energy Co. (NYSE:VLO) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,216 shares of the oil and gas company’s stock after purchasing an additional 2,887 shares during the period. CIBC Asset Management Inc’s holdings in Valero Energy were worth $7,996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Private Wealth Advisors LLC lifted its stake in shares of Valero Energy by 3.4% in the 2nd quarter. International Private Wealth Advisors LLC now owns 1,970 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 65 shares during the last quarter. OmniStar Financial Group Inc. lifted its position in Valero Energy by 1.6% during the 2nd quarter. OmniStar Financial Group Inc. now owns 4,543 shares of the oil and gas company’s stock worth $712,000 after acquiring an additional 70 shares during the last quarter. Everhart Financial Group Inc. lifted its position in Valero Energy by 5.5% during the 2nd quarter. Everhart Financial Group Inc. now owns 1,366 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 71 shares during the last quarter. St. Johns Investment Management Company LLC lifted its position in Valero Energy by 1.4% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 5,068 shares of the oil and gas company’s stock worth $794,000 after acquiring an additional 72 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its position in Valero Energy by 4.3% during the 2nd quarter. Magnus Financial Group LLC now owns 1,752 shares of the oil and gas company’s stock worth $275,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on VLO. Bank of America began coverage on shares of Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. Scotiabank dropped their price objective on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays dropped their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Mizuho dropped their price objective on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, TD Cowen dropped their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and an average price target of $155.86.

Valero Energy Price Performance

Shares of VLO stock opened at $140.16 on Friday. Valero Energy Co. has a 1 year low of $120.21 and a 1 year high of $184.79. The firm’s 50 day moving average is $135.83 and its 200-day moving average is $146.42. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.57 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period in the prior year, the business earned $7.49 earnings per share. Valero Energy’s quarterly revenue was down 14.4% on a year-over-year basis. Sell-side analysts forecast that Valero Energy Co. will post 9.1 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.05%. Valero Energy’s dividend payout ratio is currently 38.39%.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.