Valero Energy (NYSE:VLO) Price Target Raised to $292.00

Valero Energy (NYSE:VLO) had its target price raised by research analysts at Wells Fargo & Company from $220.00 to $292.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 15.84% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Scotiabank upgraded Valero Energy to a “strong-buy” rating in a report on Friday. Piper Sandler raised their price target on Valero Energy from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Valero Energy from $197.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Mizuho reiterated a “neutral” rating and issued a $192.00 price target (up from $190.00) on shares of Valero Energy in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Valero Energy in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $204.33.

Valero Energy Stock Performance

NYSE:VLO opened at $252.07 on Tuesday. The firm has a 50 day simple moving average of $210.59 and a 200-day simple moving average of $184.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.64 and a quick ratio of 1.11. The firm has a market cap of $75.38 billion, a PE ratio of 32.97, a P/E/G ratio of 0.63 and a beta of 0.70. Valero Energy has a 1-year low of $99.00 and a 1-year high of $258.43.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. The firm had revenue of $30.37 billion for the quarter, compared to analyst estimates of $28.20 billion. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. Valero Energy’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts expect that Valero Energy will post 7.92 EPS for the current year.

Insider Activity

In related news, SVP Eric A. Fisher sold 8,311 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $227.69, for a total value of $1,892,331.59. Following the completion of the sale, the senior vice president owned 42,242 shares in the company, valued at $9,618,080.98. This represents a 16.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is owned by company insiders.

Institutional Trading of Valero Energy

Large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its stake in shares of Valero Energy by 7.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 104,198 shares of the oil and gas company’s stock worth $16,963,000 after purchasing an additional 7,580 shares during the last quarter. World Investment Advisors boosted its stake in shares of Valero Energy by 32.4% during the 4th quarter. World Investment Advisors now owns 6,188 shares of the oil and gas company’s stock worth $1,007,000 after acquiring an additional 1,514 shares during the period. Larry Mathis Financial Planning LLC bought a new stake in Valero Energy in the 4th quarter valued at $314,000. Corient Private Wealth LLC raised its holdings in Valero Energy by 5.5% in the 4th quarter. Corient Private Wealth LLC now owns 235,035 shares of the oil and gas company’s stock valued at $38,264,000 after acquiring an additional 12,295 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Valero Energy by 30.1% during the fourth quarter. Hsbc Holdings PLC now owns 685,506 shares of the oil and gas company’s stock worth $111,543,000 after acquiring an additional 158,470 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

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.