Valero Energy (NYSE:VLO) Price Target Raised to $441.00

Valero Energy (NYSE:VLO) had its price target boosted by Barclays from $323.00 to $441.00 in a research note released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

VLO has been the topic of several other research reports. Morgan Stanley upped their price objective on shares of Valero Energy from $255.00 to $411.00 and gave the company an “equal weight” rating in a research note on Monday, September 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $401.00 target price on shares of Valero Energy in a research note on Tuesday, September 22nd. TD Cowen increased their price target on Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Bank of America raised their price objective on Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. Finally, Wells Fargo & Company lifted their price objective on Valero Energy from $356.00 to $389.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.19.

Valero Energy Stock Up 4.6%

Shares of NYSE:VLO opened at $443.64 on Tuesday. 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 company has a market capitalization of $127.74 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.28 and a beta of 0.59. Valero Energy has a 52-week low of $155.29 and a 52-week high of $446.48. The stock’s fifty day simple moving average is $366.26 and its 200-day simple moving average is $295.56.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $39.47 billion. During the same quarter last year, the business posted $2.28 EPS. The firm’s quarterly revenue was up 48.8% compared to the same quarter last year. As a group, equities research analysts forecast that Valero Energy will post 50.07 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, July 31st were issued a dividend of $1.20 per share. The ex-dividend date was Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.1%. Valero Energy’s payout ratio is presently 19.92%.

Institutional Trading of Valero Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Valero Energy by 11.4% during the first quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after purchasing an additional 516,975 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Valero Energy by 9.4% in the first quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock valued at $733,660,000 after purchasing an additional 254,604 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Valero Energy by 18.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock valued at $702,285,000 after purchasing an additional 442,177 shares in the last quarter. Amundi grew its holdings in Valero Energy by 45.3% during the 1st quarter. Amundi now owns 2,584,976 shares of the oil and gas company’s stock valued at $638,695,000 after purchasing an additional 806,018 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Valero Energy by 33.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,058,341 shares of the oil and gas company’s stock worth $536,074,000 after buying an additional 520,642 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

More Valero Energy News

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

• Positive Sentiment: Strong refining fundamentals: Valero’s heavy-crude processing advantage, robust refining margins and solid balance sheet are helping justify its premium valuation, even as higher crude prices create some cost pressure. Is it Worth Paying a Premium Price for Valero Energy Now?
• Positive Sentiment: Positive earnings setup: Valero was included in Zacks’ Rank #1 growth-stock list, and separate analysis identified it as a candidate to beat upcoming earnings estimates. BMO also maintained a Buy rating with a $455 price target, citing refining margins, a strong third-quarter outlook and cash-generative capital allocation. Best Growth Stocks to Buy for October 8th Valero Secures Buy Rating
• Neutral Sentiment: Mixed analyst signals: Mizuho raised its price target from $300 to $434 but retained a Neutral rating, indicating that much of the recent rally may already be reflected in the valuation. Benzinga analyst update
• Negative Sentiment: Profit-normalization risk: Jefferies lowered its price target from $401 to $394 and changed its view to Hold. Analysts also argue that recent exceptional profits were amplified by geopolitical commodity shocks and could decline as crack spreads and commodity prices normalize. Valero’s Exceptional, Unwarranted Profitability Comes To An End

About Valero Energy

Valero Energy Corporation is an international petroleum refining, renewable fuels and marketing company headquartered in San Antonio, Texas. Founded in 1980, the company processes crude oil and other feedstocks into transportation fuels and other products used by commercial, industrial and consumer customers.

Valero’s refined products include gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks. The company also produces and markets ethanol and renewable diesel, including through its Diamond Green Diesel joint venture with Darling Ingredients.