Brokerages Set Valero Energy Corporation (NYSE:VLO) Price Target at $163.80

Valero Energy Corporation (NYSE:VLO) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $165.00.

VLO has been the topic of several recent research reports. Citigroup lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Piper Sandler increased their target price on Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Finally, Mizuho upped their price target on Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, September 15th.

Hedge Funds Weigh In On Valero Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter worth about $26,000. Hoey Investments Inc. acquired a new stake in Valero Energy during the 2nd quarter valued at approximately $26,000. GFG Capital LLC purchased a new stake in Valero Energy during the 2nd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. raised its position in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 130 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Valero Energy during the 4th quarter valued at approximately $29,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 2.4%

Shares of NYSE:VLO opened at $170.40 on Friday. The stock has a 50-day simple moving average of $147.23 and a 200-day simple moving average of $134.67. The stock has a market capitalization of $52.93 billion, a P/E ratio of 71.00, a PEG ratio of 1.80 and a beta of 1.10. Valero Energy has a 1 year low of $99.00 and a 1 year high of $172.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $27 billion. During the same period in the previous year, the company posted $2.71 earnings per share. Valero Energy’s revenue was down 13.3% compared to the same quarter last year. Equities analysts forecast that Valero Energy will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy’s dividend payout ratio (DPR) is presently 188.33%.

Valero Energy Company Profile

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.