Allstate Corp Buys 12,982 Shares of Valero Energy Corporation $VLO

Key Points

• Allstate Corp increased its stake in Valero Energy by 118.6% in the fourth quarter, buying 12,982 additional shares and bringing its total holding to 23,926 shares worth about $3.9 million.
• Valero Energy reported strong quarterly results, with earnings of $4.22 per share versus the $3.16 consensus estimate and revenue of $32.38 billion, up 7% year over year.
• The company also announced a quarterly dividend of $1.20 per share, implying an annualized yield of about 2.0%, while analysts currently rate the stock Moderate Buy with a consensus price target of $243.65.

Allstate Corp boosted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 118.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,926 shares of the oil and gas company's stock after buying an additional 12,982 shares during the period. Allstate Corp's holdings in Valero Energy were worth $3,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. National Pension Service raised its stake in shares of Valero Energy by 3.6% in the third quarter. National Pension Service now owns 491,134 shares of the oil and gas company's stock worth $83,620,000 after purchasing an additional 17,165 shares during the last quarter. Barclays PLC raised its stake in shares of Valero Energy by 5.3% in the third quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company's stock worth $705,502,000 after purchasing an additional 209,597 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of Valero Energy by 33.5% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 42,376 shares of the oil and gas company's stock worth $6,898,000 after purchasing an additional 10,634 shares during the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Valero Energy by 13.7% in the third quarter. Applied Finance Capital Management LLC now owns 115,183 shares of the oil and gas company's stock worth $19,612,000 after purchasing an additional 13,923 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Valero Energy in the fourth quarter worth $954,000. Institutional investors own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VLO. Zacks Research upgraded Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. Wolfe Research restated an "underperform" rating and issued a $203.00 price target on shares of Valero Energy in a research note on Tuesday, April 21st. Mizuho lifted their price objective on Valero Energy from $222.00 to $289.00 and gave the stock a "neutral" rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Valero Energy from $203.00 to $237.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Finally, Morgan Stanley lifted their price objective on Valero Energy from $182.00 to $222.00 and gave the stock an "equal weight" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Valero Energy presently has an average rating of "Moderate Buy" and a consensus price target of $243.65.

Valero Energy Stock Performance

NYSE:VLO opened at $240.43 on Thursday. The stock has a 50-day simple moving average of $242.49 and a two-hundred day simple moving average of $206.27. Valero Energy Corporation has a 52-week low of $125.10 and a 52-week high of $263.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. The firm has a market capitalization of $71.39 billion, a PE ratio of 17.47, a P/E/G ratio of 0.36 and a beta of 0.58.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The business had revenue of $32.38 billion during the quarter, compared to analyst estimates of $31.38 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. Valero Energy's revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast that Valero Energy Corporation will post 26.51 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, May 21st. Valero Energy's payout ratio is currently 34.88%.

Insider Transactions at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $238.60, for a total value of $95,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company's stock.

Valero Energy Company Profile

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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