Socorro Asset Management LP Raises Stock Position in Valero Energy Co. (NYSE:VLO)

Socorro Asset Management LP grew its holdings in shares of Valero Energy Co. (NYSE:VLO) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,743 shares of the oil and gas company’s stock after buying an additional 2,339 shares during the quarter. Valero Energy accounts for approximately 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. EdgeRock Capital LLC bought a new stake in shares of Valero Energy in the 2nd quarter valued at approximately $27,000. Peterson Financial Group Inc. bought a new stake in Valero Energy in the third quarter worth $28,000. Lynx Investment Advisory purchased a new position in Valero Energy during the second quarter worth $29,000. Summit Securities Group LLC bought a new position in Valero Energy during the second quarter valued at $31,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Valero Energy in the third quarter valued at $34,000. Institutional investors own 78.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VLO. Scotiabank dropped their price target on shares of 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. Barclays cut their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Mizuho decreased their price target on Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Citigroup dropped their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group reduced their target price on Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.86.

Valero Energy Stock Up 0.4 %

Shares of NYSE VLO opened at $139.08 on Friday. Valero Energy Co. has a 12-month low of $120.21 and a 12-month high of $184.79. The stock’s fifty day simple moving average is $136.92 and its two-hundred day simple moving average is $145.28. The stock has a market capitalization of $44.03 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last issued 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. The company had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.49 earnings per share. As a group, analysts expect that Valero Energy Co. will post 8.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company 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 is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.08%. Valero Energy’s dividend payout ratio (DPR) is presently 38.39%.

About Valero Energy

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.