It then took advantage of its higher stock price to raise $815 million of equity capital, which it subsequently used to repay its credit facility.
The Board of Directors also approved an incremental $2.5 billion share repurchase authorization. The total value of the transaction was worth $302,350.
To download our investor relations mobile app, which offers access to SEC filings, press releases, stock quotes, and upcoming events, please visit Apple’s iTunes App Store for your iPhone and iPad or Google’s Play Store for your Android mobile device. The disclosure for this sale can be found here. The 52-week high of the share price is $66.14 and the 52-week low is $42.53.
Stock prices of many refiners are up over the past year, including that of Valero Energy (NYSE:VLO), whose shares are up 31% just since the start of 2015.
Valero recently had a market capitalization of roughly $33.49 billion, according to FactSet.
Tyler Crowe: Before you get too excited to see that Williams Companies (NYSE:WMB) stock has gained a little more than 25% this year, let’s remember why that happened. It’s not that they have done this on their own, it’s as effect of the company getting a proposal from Energy Transfer Equity to receive share for $64. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.40 per share. Analysts at Barclays reiterated an overweight rating and set a $86.00 price target on shares of Valero Energy in a research note on Thursday, July 2nd. Analysts at JPMorgan Chase & Co. raised their price target on shares of Valero Energy from $63.00 to $68.00 in a research note on Tuesday, July 7th. Analysts at Cowen and Company reiterated an outperform rating on shares of Valero Energy in a research note on Friday, June 19th. It’s not from some spectacular results, but rather it’s the result of the company receiving an offer from Energy Transfer Equity to acquire the company for $64 per share in June. 5 analysts have rated the company as a strong buy. Valero Energy now has a consensus rating of “Buy” and a consensus target price of $69.61.
San Antonio-based Valero makes and sells transportation fuels and petrochemical products. The Company’s refineries can produce conventional gasolines, premium gasolines, gasoline, diesel fuel, low-sulfur diesel fuel, ultra-low-sulfur diesel fuel, CARB diesel fuel, other distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products. Approximately 7,400 outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. It operates in three business segments: refining, ethanol, and retail. Its ethanol segment primarily includes sale of internally produced ethanol and distillers grains.