Valero Energy (NYSE:VLO) Price Target Raised to $400.00

Key Points

• TD Cowen raised Valero Energy’s price target from $375 to $400 while maintaining a “hold” rating, implying 5.41% downside from the prior close.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $385.75; other firms set targets as high as $485.
• Valero reported strong quarterly results, earning $23.90 per share versus the $21.17 estimate and generating $46.10 billion in revenue, up 43.3% year over year.

Valero Energy (NYSE:VLO - Get Free Report) had its price objective hoisted by investment analysts at TD Cowen from $375.00 to $400.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "hold" rating on the oil and gas company's stock. TD Cowen's price target suggests a potential downside of 5.41% from the stock's previous close.

A number of other research firms have also commented on VLO. Wells Fargo & Company boosted their price target on shares of Valero Energy from $389.00 to $485.00 and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Mizuho lifted their price objective on Valero Energy from $300.00 to $434.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. The Goldman Sachs Group boosted their price objective on Valero Energy from $365.00 to $457.00 and gave the stock a "buy" rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded Valero Energy from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Barclays raised their target price on Valero Energy from $323.00 to $441.00 and gave the company an "overweight" rating in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $385.75.

Valero Energy Price Performance

Valero Energy stock traded down $13.86 during mid-day trading on Thursday, hitting $422.89. 548,941 shares of the company were exchanged, compared to its average volume of 3,288,154. 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 business has a fifty day moving average of $389.82 and a 200 day moving average of $308.10. Valero Energy has a 1-year low of $159.90 and a 1-year high of $461.52. The company has a market capitalization of $121.76 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.27 and a beta of 0.59.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 EPS for the quarter, beating the consensus estimate of $21.17 by $2.73. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The company had revenue of $46.10 billion for the quarter, compared to the consensus estimate of $42.71 billion. During the same quarter in the previous year, the company earned $3.66 EPS. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, sell-side analysts expect that Valero Energy will post 52.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VLO. SeaCrest Wealth Management LLC grew its stake in Valero Energy by 1.4% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 10,447 shares of the oil and gas company's stock valued at $4,049,000 after buying an additional 144 shares during the last quarter. NBT Bank N.A. bought a new stake in shares of Valero Energy during the third quarter worth approximately $111,000. Root Financial Partners LLC grew its position in shares of Valero Energy by 31.1% in the third quarter. Root Financial Partners LLC now owns 2,308 shares of the oil and gas company's stock valued at $894,000 after purchasing an additional 547 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Valero Energy by 606.4% in the third quarter. SBI Securities Co. Ltd. now owns 12,672 shares of the oil and gas company's stock valued at $4,912,000 after purchasing an additional 10,878 shares during the last quarter. Finally, Marion Wealth Management bought a new position in shares of Valero Energy during the third quarter worth approximately $221,000. 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. The company's primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.

Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.

In addition to conventional refining, Valero has businesses focused on renewable fuels.

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