Benjamin Edwards Inc. Increases Valero Energy Stake by 17.3% to $3.14M
Benjamin Edwards Inc. boosted its position in Valero Energy by 17.3%, buying 2,721 shares in the third quarter to reach 18,440 shares. The firm’s Valero holdings were valued at $3.14 million as of the filing, contributing to the company’s 78.69% total institutional ownership.
1. Institutional Investors Increase Stakes in Valero
Benjamin Edwards Inc. raised its holding in Valero Energy Corporation by 17.3% during the third quarter, acquiring an additional 2,721 shares to bring its total position to 18,440 shares valued at approximately $3.14 million at quarter end. Several other institutions also adjusted their stakes: Private Trust Co. NA added 65 shares for a 2.0% gain, Highline Wealth Partners LLC boosted its position by 70.2% with an extra 66 shares, Broadway Wealth Solutions Inc. grew holdings by 3.8% with 69 new shares, Salomon & Ludwin LLC lifted its stake by 17.0% with 69 shares, and Sowell Financial Services LLC increased its position by 0.6% through the purchase of 70 shares. Institutional and hedge fund ownership now accounts for 78.69% of Valero’s outstanding equity.
2. Insider Activity and Ownership Changes
Chief Financial Officer Jason W. Fraser sold 9,933 shares of Valero stock on November 21, reducing his personal stake by 6.89% to 134,196 shares. The transaction generated proceeds of $1.73 million, and following the sale Fraser retains a holding valued at $23.35 million. Insider ownership remains minimal, representing just 0.04% of the company’s total shares outstanding.
3. Analyst Ratings and Price Target Revisions
Analysts have trended bullish on Valero in recent months. Three firms have issued Strong Buy recommendations, nine have Buy, and eight maintain Hold ratings, yielding an average consensus rating of Moderate Buy. Morgan Stanley shifted from Overweight to Equal Weight while raising its target from $160 to $175. JPMorgan Chase & Co. and Wells Fargo & Company each increased their targets—JPMorgan from $197 to $200, Wells Fargo from $216 to $220—and reaffirmed Overweight stances. Jefferies Financial Group lifted its projection from $181 to $194 and maintained a Buy rating. MarketBeat.com’s consensus target price now stands at $183.
4. Recent Financial Performance and Dividend Policy
In its third-quarter report, Valero delivered earnings of $3.66 per share, exceeding analyst estimates by $0.51, on revenue of $32.17 billion, ahead of consensus by $3.37 billion despite a 2.2% year-over-year revenue decline. The company posted a net margin of 1.21% and return on equity of 8.69%. Valero declared a quarterly dividend of $1.13 per share, payable December 18 to holders of record November 20, corresponding to an annualized payout of $4.52 and a yield of 2.4%. The dividend payout ratio stands at 94.36%.