Valero Energy (NYSE:VLO) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Valero Energy’s price target to $414 from $395 while maintaining a “neutral” rating, implying about 1.49% upside from the prior close.
• Analyst sentiment is broadly positive, with Valero holding a consensus “Moderate Buy” rating and an average price target of $348.81; individual targets range as high as $457 from Goldman Sachs.
• Valero reported strong quarterly results, posting $12.54 in EPS versus the $10.11 consensus and $44.48 billion in revenue, up 48.8% year over year. Institutional investors own approximately 78.69% of the company.

Valero Energy (NYSE:VLO - Get Free Report) had its target price increased by investment analysts at Bank of America from $395.00 to $414.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Bank of America's target price suggests a potential upside of 1.49% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Valero Energy from $365.00 to $457.00 and gave the stock a "buy" rating in a research note on Wednesday, September 23rd. Citigroup increased their price target on shares of Valero Energy from $259.00 to $302.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Wells Fargo & Company raised their price target on shares of Valero Energy from $356.00 to $389.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Morgan Stanley boosted their price objective on shares of Valero Energy from $255.00 to $411.00 and gave the stock an "equal weight" rating in a report on Monday, September 14th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $401.00 target price on shares of Valero Energy in a research note on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Valero Energy has a consensus rating of "Moderate Buy" and a consensus price target of $348.81.

Valero Energy Price Performance

NYSE VLO opened at $407.94 on Friday. Valero Energy has a twelve month low of $155.29 and a twelve month high of $419.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The stock has a market capitalization of $117.46 billion, a PE ratio of 16.93, a P/E/G ratio of 0.26 and a beta of 0.59. The stock has a 50-day simple moving average of $354.46 and a 200 day simple moving average of $289.07.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company's revenue was up 48.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS. Research analysts anticipate that Valero Energy will post 49.17 EPS for the current year.

Institutional Trading of Valero Energy

Institutional investors have recently bought and sold shares of the stock. Moore Capital Management LP bought a new position in Valero Energy during the second quarter worth about $13,193,000. Fort Washington Investment Advisors Inc. OH boosted its stake in Valero Energy by 4.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company's stock worth $47,546,000 after acquiring an additional 7,702 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Valero Energy during the fourth quarter valued at approximately $2,268,000. TrueMark Investments LLC acquired a new stake in Valero Energy in the first quarter worth $8,921,000. Finally, Jennison Associates LLC boosted its position in shares of Valero Energy by 377.1% during the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company's stock worth $102,152,000 after purchasing an additional 326,777 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

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.

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