Sonora Investment Management Group LLC Has $21.93 Million Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Sonora Investment Management Group LLC reduced its stake in Valero Energy Corporation by 2.0%, now holding approximately $21.93 million worth of shares.
• Valero Energy has received recent upgrades in price targets, with Mizuho and UBS Group increasing their targets to $190.00 and $183.00 respectively, reflecting a positive outlook.
• The company recently declared a quarterly dividend of $1.13, resulting in an annualized dividend yield of 2.6%, although its payout ratio stands at a high 188.33%.

Sonora Investment Management Group LLC lowered its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 163,122 shares of the oil and gas company's stock after selling 3,376 shares during the period. Valero Energy makes up 1.6% of Sonora Investment Management Group LLC's portfolio, making the stock its 18th largest holding. Sonora Investment Management Group LLC owned 0.05% of Valero Energy worth $21,927,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in Valero Energy in the 1st quarter valued at $26,000. Hoey Investments Inc. acquired a new stake in Valero Energy during the second quarter worth approximately $26,000. Hazlett Burt & Watson Inc. grew its position in Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after buying an additional 130 shares in the last quarter. Hemington Wealth Management increased its stake in Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 95 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Valero Energy during the 1st quarter worth $43,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on VLO. Mizuho increased their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. UBS Group boosted their target price on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Morgan Stanley increased their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial upped their target price on Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.00.

Valero Energy Price Performance

VLO stock opened at $175.72 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.85 and a beta of 1.10. The company's fifty day simple moving average is $148.97 and its 200 day simple moving average is $135.69. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 EPS. On average, analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 2.6%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

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.

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