UBS Group Raises Valero Energy (NYSE:VLO) Price Target to $197.00

Valero Energy (NYSE:VLO) had its target price boosted by UBS Group from $167.00 to $197.00 in a research note issued to investors on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

VLO has been the subject of several other research reports. The Goldman Sachs Group raised their price target on Valero Energy from $130.00 to $171.00 and gave the company a sell rating in a report on Friday, March 22nd. Raymond James raised their price target on Valero Energy from $154.00 to $155.00 and gave the company a strong-buy rating in a report on Friday, January 26th. Citigroup started coverage on Valero Energy in a report on Wednesday, January 24th. They set a buy rating for the company. Wells Fargo & Company raised their price target on Valero Energy from $138.00 to $171.00 and gave the company an equal weight rating in a report on Wednesday, March 20th. Finally, Bank of America upgraded Valero Energy from a neutral rating to a buy rating and raised their price target for the company from $156.00 to $210.00 in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $165.69.

Valero Energy Stock Performance

NYSE:VLO opened at $170.69 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy has a 12-month low of $104.18 and a 12-month high of $172.46. The stock has a 50-day moving average price of $145.77 and a 200 day moving average price of $135.75. The stock has a market capitalization of $56.75 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.78 and a beta of 1.53.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.60. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. The firm had revenue of $35.41 billion during the quarter, compared to analysts’ expectations of $34.76 billion. During the same quarter last year, the business posted $8.45 earnings per share. The firm’s revenue was down 15.2% on a year-over-year basis. Equities research analysts forecast that Valero Energy will post 15.66 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Thursday, February 1st were issued a $1.07 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, January 31st. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.51%. Valero Energy’s payout ratio is 17.31%.

Hedge Funds Weigh In On Valero Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Valero Energy during the 3rd quarter valued at $28,000. Indiana Trust & Investment Management CO acquired a new position in Valero Energy during the 3rd quarter valued at about $28,000. BKM Wealth Management LLC acquired a new position in Valero Energy during the 4th quarter valued at about $26,000. Live Oak Investment Partners acquired a new position in Valero Energy during the 4th quarter valued at about $26,000. Finally, Quarry LP increased its position in Valero Energy by 1,676.9% during the 1st quarter. Quarry LP now owns 231 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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.