Valero Energy (NYSE:VLO) Stock Price Target Raised at Morgan Stanley

Key Points

• Morgan Stanley raised Valero Energy’s price target from $411 to $420 while maintaining an “equal weight” rating, implying 8.82% potential upside.
• Analyst sentiment is broadly positive, with Valero carrying a “Moderate Buy” consensus rating and an average price target of $380.47; recent targets range from $400 to $489.
• Valero shares fell 3.4% to $385.95, despite the company beating quarterly earnings and revenue estimates, reporting $23.90 in EPS and $46.10 billion in revenue.

Valero Energy (NYSE:VLO - Get Free Report) had its price target raised by Morgan Stanley from $411.00 to $420.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas company's stock. Morgan Stanley's price target indicates a potential upside of 8.82% from the company's current price.

Several other research analysts have also recently commented on VLO. The Goldman Sachs Group raised their target price on shares of Valero Energy from $365.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. Bank of America upped their price target on shares of Valero Energy from $395.00 to $414.00 and gave the company a "neutral" rating in a research report on Friday, October 2nd. Wells Fargo & Company upped their price target on shares of Valero Energy from $485.00 to $489.00 and gave the company an "overweight" rating in a research report on Friday, October 23rd. TD Cowen raised their price objective on shares of Valero Energy from $375.00 to $400.00 and gave the stock a "hold" rating in a research note on Thursday, October 22nd. Finally, Zacks Research raised shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $380.47.

Valero Energy Trading Down 3.4%

Shares of Valero Energy stock traded down $13.71 on Monday, reaching $385.95. 1,558,576 shares of the company were exchanged, compared to its average volume of 3,293,171. The stock has a fifty day moving average price of $397.64 and a 200-day moving average price of $285.06. The firm has a market capitalization of $111.13 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.21 and a beta of 0.58. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. Valero Energy has a fifty-two week low of $159.90 and a fifty-two week high of $461.52.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, beating analysts' consensus estimates of $21.17 by $2.73. The business had revenue of $46.10 billion during the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a return on equity of 45.90% and a net margin of 8.44%. Valero Energy's revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter last year, the company posted $3.66 EPS. On average, analysts expect that Valero Energy will post 57.42 EPS for the current year.

Hedge Funds Weigh In On Valero Energy

Several institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC grew its position in Valero Energy by 3,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Cornerstone Financial Management LLC grew its position in Valero Energy by 57.6% during the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in shares of Valero Energy by 134.0% in the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock valued at $29,000 after buying an additional 67 shares in the last quarter. Balance Wealth Partners LLC acquired a new stake in Valero Energy in the 3rd quarter valued at about $32,000. Finally, Global Assets Advisory LLC bought a new position in Valero Energy in the 1st quarter worth approximately $33,000. 78.69% of the stock is currently owned by institutional investors.

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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