Valero Energy Co. (NYSE:VLO) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 5,710,000 shares, an increase of 9.4% from the August 30th total of 5,220,000 shares. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the shares of the stock are sold short.
A number of brokerages recently weighed in on VLO. JPMorgan Chase & Co. lowered their price target on shares of Valero Energy from $96.00 to $83.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Royal Bank of Canada set a $98.00 price target on shares of Valero Energy and gave the company a “buy” rating in a report on Friday, July 26th. ValuEngine raised shares of Valero Energy from a “sell” rating to a “hold” rating in a report on Friday, September 27th. Finally, Wells Fargo & Co raised their price target on shares of Valero Energy from $107.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $103.56.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Valero Energy by 2.7% during the 2nd quarter. BlackRock Inc. now owns 34,645,065 shares of the oil and gas company’s stock worth $2,965,964,000 after acquiring an additional 896,211 shares during the period. Vanguard Group Inc. grew its holdings in shares of Valero Energy by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 34,131,975 shares of the oil and gas company’s stock valued at $2,922,038,000 after buying an additional 116,878 shares during the period. FMR LLC grew its holdings in shares of Valero Energy by 1.2% in the 1st quarter. FMR LLC now owns 11,136,474 shares of the oil and gas company’s stock valued at $944,707,000 after buying an additional 127,138 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Valero Energy by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,172,100 shares of the oil and gas company’s stock valued at $785,223,000 after buying an additional 515,534 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Valero Energy by 2.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,018,386 shares of the oil and gas company’s stock valued at $515,234,000 after buying an additional 121,909 shares during the period. 76.22% of the stock is owned by hedge funds and other institutional investors.
VLO traded down $0.23 during trading on Wednesday, reaching $89.22. 1,438,691 shares of the company’s stock were exchanged, compared to its average volume of 3,205,734. The company’s fifty day moving average price is $81.92 and its 200-day moving average price is $82.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.42. Valero Energy has a fifty-two week low of $68.81 and a fifty-two week high of $106.19. The firm has a market capitalization of $36.86 billion, a PE ratio of 12.11, a P/E/G ratio of 2.44 and a beta of 1.48.
Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 25th. The oil and gas company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. Valero Energy had a net margin of 2.27% and a return on equity of 11.31%. The firm had revenue of $28.93 billion during the quarter, compared to analyst estimates of $25.45 billion. During the same quarter in the previous year, the business earned $2.15 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts forecast that Valero Energy will post 4.5 earnings per share for the current fiscal year.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
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