Valero Energy (NYSE:VLO) Price Target Raised to $389.00

Valero Energy (NYSE:VLO) had its price target lifted by Wells Fargo & Company from $356.00 to $389.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

VLO has been the topic of a number of other reports. Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research note on Monday, August 3rd. TD Cowen raised their price objective on shares of Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. UBS Group lifted their price objective on shares of Valero Energy from $280.00 to $355.00 and gave the company a “buy” rating in a report on Friday, July 31st. Morgan Stanley upped their target price on shares of Valero Energy from $232.00 to $255.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Finally, Barclays increased their target price on shares of Valero Energy from $279.00 to $323.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $296.18.

Valero Energy Trading Up 1.3%

VLO opened at $370.84 on Tuesday. Valero Energy has a 52 week low of $153.20 and a 52 week high of $375.11. The company has a quick ratio of 1.23, a current ratio of 1.64 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $313.01 and a 200-day simple moving average of $264.11. The firm has a market cap of $106.78 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.42 and a beta of 0.57.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The firm had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. During the same quarter in the previous year, the business earned $2.28 EPS. The company’s quarterly revenue was up 48.8% compared to the same quarter last year. On average, equities analysts expect that Valero Energy will post 40.7 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were given a $1.20 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. Valero Energy’s dividend payout ratio (DPR) is currently 19.92%.

Insider Activity

In other news, SVP Eric Fisher sold 7,500 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the transaction, the senior vice president directly owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.

Institutional Trading of Valero Energy

Several hedge funds have recently added to or reduced their stakes in the company. Range Advisory LLC acquired a new position in Valero Energy during the 2nd quarter worth approximately $253,000. Cornerstone Financial Management LLC raised its holdings in shares of Valero Energy by 57.6% in the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Optimize Financial Inc. purchased a new stake in shares of Valero Energy during the 2nd quarter worth $209,000. HighTower Advisors LLC lifted its position in shares of Valero Energy by 32.4% during the 2nd quarter. HighTower Advisors LLC now owns 156,631 shares of the oil and gas company’s stock worth $40,793,000 after purchasing an additional 38,296 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Valero Energy during the second quarter worth $870,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Key Stories Impacting Valero Energy

Here are the key news stories impacting Valero Energy this week:

• Positive Sentiment: Piper Sandler raised its price target to $435 from $329 and upgraded Valero to “Overweight,” implying further upside from recent levels. The revision is a significant boost to investor sentiment. Benzinga analyst note
• Positive Sentiment: Erste Group Bank increased its earnings estimates for Valero, suggesting expectations for stronger refining profitability and supporting the stock’s valuation. Erste Group Bank Boosts Earnings Estimates for Valero Energy
• Positive Sentiment: Wells Fargo indicated that Valero’s stock is expected to rise, adding another favorable sell-side view as the shares approach record levels. Valero Energy Stock Price Expected to Rise
• Positive Sentiment: Zacks added VLO to its Rank #1 (Strong Buy) growth-stock list on September 2 and September 3. The repeated ranking reflects favorable earnings and momentum indicators. Best Growth Stocks to Buy for September 3rd
• Positive Sentiment: Valero outperformed the broader stock market in the latest session, with the rally likely reinforced by analyst upgrades, higher earnings expectations and continued investor interest in refiners. Valero Energy Laps the Stock Market
• Neutral Sentiment: Valero reached a new 12-month high, highlighting strong momentum but also raising the risk that much of the positive outlook is already reflected in the share price. Valero Energy Hits New 12-Month High
• Negative Sentiment: A Seeking Alpha analysis downgraded Valero to “Hold,” arguing that the market may already be pricing in the benefit of closed Russian oil flows and related refining-market support. This represents a valuation and risk warning after the recent advance. Valero Energy: Market Pricing Closed Russian Flows

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.