Forteris Wealth Management Inc. Invests $958,000 in Valero Energy Corporation $VLO

Key Points

• Forteris Wealth Management opened a new position in Valero (NYSE:VLO) during Q4, buying 5,884 shares worth about $958,000 — roughly 0.9% of its portfolio and the firm's 27th largest holding.
• Valero beat Q4 estimates, reporting $3.82 EPS vs. $3.27 expected and $30.37 billion in revenue vs. $28.20 billion, plus it raised the quarterly dividend to $1.20 ($4.80 annual, ~2.0% yield) while analysts lifted price targets, leaving a consensus rating of "Moderate Buy" (target $230).
• Institutional ownership is high at about 78.7%, and an insider (SVP Eric A. Fisher) sold 8,311 shares (~$1.89M), leaving insiders with roughly 0.36% ownership.

Forteris Wealth Management Inc. purchased a new position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,884 shares of the oil and gas company's stock, valued at approximately $958,000. Valero Energy comprises about 0.9% of Forteris Wealth Management Inc.'s portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Childress Capital Advisors LLC increased its holdings in Valero Energy by 2.2% in the 4th quarter. Childress Capital Advisors LLC now owns 2,945 shares of the oil and gas company's stock worth $479,000 after buying an additional 62 shares during the period. KBC Group NV increased its holdings in Valero Energy by 135.5% in the 4th quarter. KBC Group NV now owns 72,651 shares of the oil and gas company's stock worth $11,827,000 after buying an additional 41,797 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in Valero Energy by 21.1% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,300 shares of the oil and gas company's stock worth $374,000 after buying an additional 400 shares during the period. LBP AM SA increased its holdings in Valero Energy by 81.8% in the 4th quarter. LBP AM SA now owns 70,256 shares of the oil and gas company's stock worth $11,437,000 after buying an additional 31,612 shares during the period. Finally, Roman Butler Fullerton & Co. increased its holdings in Valero Energy by 1.1% in the 4th quarter. Roman Butler Fullerton & Co. now owns 8,735 shares of the oil and gas company's stock worth $1,422,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Trading Up 2.9%

Valero Energy stock opened at $241.78 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36. Valero Energy Corporation has a 12 month low of $106.83 and a 12 month high of $258.43. The stock's 50 day simple moving average is $224.89 and its two-hundred day simple moving average is $191.23. The firm has a market cap of $72.30 billion, a PE ratio of 31.65, a P/E/G ratio of 0.51 and a beta of 0.62.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, topping the consensus estimate of $3.27 by $0.55. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The business had revenue of $30.37 billion for the quarter, compared to analyst estimates of $28.20 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business's quarterly revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 5th were given a $1.20 dividend. The ex-dividend date was Thursday, February 5th. This represents a $4.80 annualized dividend and a yield of 2.0%. This is a boost from Valero Energy's previous quarterly dividend of $1.13. Valero Energy's payout ratio is currently 62.83%.

Analyst Ratings Changes

VLO has been the topic of several research reports. Morgan Stanley increased their price target on shares of Valero Energy from $175.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 27th. BMO Capital Markets increased their price target on shares of Valero Energy from $230.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Raymond James Financial increased their price target on shares of Valero Energy from $215.00 to $290.00 and gave the stock a "strong-buy" rating in a report on Wednesday, March 25th. The Goldman Sachs Group increased their price target on shares of Valero Energy from $203.00 to $237.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Finally, Citigroup increased their price target on shares of Valero Energy from $212.00 to $246.00 and gave the stock a "neutral" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.00.

Insider Buying and Selling at Valero Energy

In other news, SVP Eric A. Fisher sold 8,311 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $227.69, for a total transaction of $1,892,331.59. Following the completion of the transaction, the senior vice president directly owned 42,242 shares of the company's stock, valued at $9,618,080.98. This represents a 16.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.36% of the stock is currently owned by insiders.

Valero Energy 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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