Valero Energy Co. (NYSE:VLO) Shares Acquired by Socorro Asset Management LP

Socorro Asset Management LP grew its stake in shares of Valero Energy Co. (NYSE:VLO) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,743 shares of the oil and gas company’s stock after purchasing an additional 2,339 shares during the quarter. Valero Energy accounts for about 3.1% of Socorro Asset Management LP’s holdings, making the stock its 19th biggest holding. Socorro Asset Management LP’s holdings in Valero Energy were worth $8,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Valero Energy during the 2nd quarter valued at approximately $27,000. Peterson Financial Group Inc. acquired a new position in shares of Valero Energy in the 3rd quarter valued at $28,000. Lynx Investment Advisory purchased a new position in Valero Energy in the 2nd quarter worth $29,000. Summit Securities Group LLC acquired a new stake in Valero Energy during the 2nd quarter worth about $31,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Valero Energy during the 3rd quarter valued at about $34,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $139.08 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The business has a 50 day simple moving average of $136.92 and a two-hundred day simple moving average of $145.28. The stock has a market capitalization of $44.03 billion, a P/E ratio of 12.47, a PEG ratio of 2.60 and a beta of 1.39. Valero Energy Co. has a 12 month low of $120.21 and a 12 month high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The company had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the firm posted $7.49 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, analysts predict that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.08%. Valero Energy’s dividend payout ratio is presently 38.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Citigroup decreased their price objective on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $172.00 to $165.00 in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price target on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, The Goldman Sachs Group decreased their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.86.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.