Raymond James Financial Forecasts Strong Price Appreciation for Valero Energy (NYSE:VLO) Stock

Key Points

• Raymond James raised Valero Energy’s price target from $350 to $450 and maintained a “strong-buy” rating, implying 17.85% upside from the reported $381.85 share price.
• Analyst sentiment is broadly positive but varied: Valero has a consensus “Moderate Buy” rating and an average price target of $317.41, while recent targets range from $300 to $450.
• Valero reported strong quarterly results, with EPS of $12.54 versus the $10.11 consensus estimate and revenue of $44.48 billion, up 48.8% year over year; institutional investors own 78.69% of the company.

Valero Energy (NYSE:VLO - Get Free Report) had its target price boosted by equities researchers at Raymond James Financial from $350.00 to $450.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "strong-buy" rating on the oil and gas company's stock. Raymond James Financial's target price indicates a potential upside of 17.85% from the stock's current price.

VLO has been the subject of several other reports. Citigroup upped their price objective on shares of Valero Energy from $259.00 to $302.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on shares of Valero Energy from $255.00 to $411.00 and gave the company an "equal weight" rating in a research report on Monday. Piper Sandler increased their price target on shares of Valero Energy from $329.00 to $435.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Mizuho raised their price objective on shares of Valero Energy from $289.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised Valero Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $317.41.

Valero Energy Trading Down 2.2%

Shares of VLO traded down $8.57 during mid-day trading on Monday, reaching $381.85. The company's stock had a trading volume of 3,315,072 shares, compared to its average volume of 3,288,547. Valero Energy has a 52 week low of $155.29 and a 52 week high of $399.76. The stock has a market cap of $109.95 billion, a PE ratio of 15.84, a P/E/G ratio of 0.31 and a beta of 0.57. The company's fifty day moving average price is $327.00 and its two-hundred day moving average price is $271.83. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $44.48 billion for the quarter, compared to analysts' expectations of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business's quarterly revenue was up 48.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. On average, analysts predict that Valero Energy will post 41.95 earnings per share for the current fiscal year.

Insider Transactions at Valero Energy

In other news, SVP Eric Fisher sold 7,500 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the sale, the senior vice president owned 19,742 shares of the company's stock, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.36% of the company's stock.

Institutional Investors Weigh In On Valero Energy

A number of large investors have recently added to or reduced their stakes in VLO. Cornerstone Financial Management LLC lifted its position in shares of Valero Energy by 57.6% during the second quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Valero Energy by 0.6% during the 1st quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company's stock valued at $1,648,000 after purchasing an additional 42 shares during the period. Bouchey Financial Group Ltd. lifted its stake in Valero Energy by 4.6% in the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,016 shares of the oil and gas company's stock worth $265,000 after purchasing an additional 45 shares in the last quarter. M.E. Allison & CO. Inc. increased its holdings in shares of Valero Energy by 5.8% in the second quarter. M.E. Allison & CO. Inc. now owns 916 shares of the oil and gas company's stock worth $239,000 after purchasing an additional 50 shares during the period. Finally, Ridgecrest Wealth Partners LLC raised its position in shares of Valero Energy by 5.0% in the second quarter. Ridgecrest Wealth Partners LLC now owns 1,054 shares of the oil and gas company's stock worth $275,000 after buying an additional 50 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Company Profile

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.

Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.