JCIC Asset Management Inc. Invests $8.06 Million in Valero Energy Corporation $VLO

JCIC Asset Management Inc. bought a new position in Valero Energy Corporation (NYSE:VLO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 47,344 shares of the oil and gas company’s stock, valued at approximately $8,061,000. Valero Energy comprises about 2.5% of JCIC Asset Management Inc.’s portfolio, making the stock its 12th biggest position.

Several other hedge funds have also modified their holdings of VLO. Highline Wealth Partners LLC raised its holdings in Valero Energy by 70.2% during the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock worth $27,000 after buying an additional 66 shares during the period. Hoey Investments Inc. acquired a new stake in shares of Valero Energy during the second quarter valued at approximately $26,000. Global Wealth Strategies & Associates purchased a new stake in shares of Valero Energy in the 3rd quarter valued at approximately $34,000. GFG Capital LLC purchased a new stake in shares of Valero Energy in the 2nd quarter valued at approximately $27,000. Finally, Hantz Financial Services Inc. boosted its stake in Valero Energy by 1,277.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 230 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

VLO stock opened at $183.35 on Monday. The firm has a 50 day moving average of $174.02 and a two-hundred day moving average of $161.28. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $192.00. The company has a market capitalization of $55.92 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 1.09 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.51. The business had revenue of $32.17 billion during the quarter, compared to analyst estimates of $28.80 billion. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. Valero Energy’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, equities analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 20th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, November 20th. Valero Energy’s dividend payout ratio (DPR) is presently 94.36%.

Insiders Place Their Bets

In related news, CFO Jason W. Fraser sold 9,933 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $174.02, for a total value of $1,728,540.66. Following the completion of the sale, the chief financial officer directly owned 134,196 shares in the company, valued at approximately $23,352,787.92. The trade was a 6.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VLO. Bank of America reissued a “neutral” rating and set a $195.00 target price (down from $198.00) on shares of Valero Energy in a research note on Thursday, December 11th. Piper Sandler reduced their price objective on Valero Energy from $223.00 to $217.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Morgan Stanley cut Valero Energy from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $160.00 to $175.00 in a research note on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Valero Energy in a report on Wednesday, October 8th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $195.00 price target (up from $181.00) on shares of Valero Energy in a research report on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.00.

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.