JPMorgan Chase & Co. Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its target price for Valero Energy's stock from $177.00 to $197.00, indicating a potential upside of 13.73% from its previous close, while maintaining an "overweight" rating.
• Valero Energy reported earnings of $3.66 per share, surpassing analysts' expectations of $3.15, and had total revenue of $32.17 billion for the quarter.
• Currently, Valero Energy has a consensus rating of "Moderate Buy" with a price target average of $176.60, supported by various equities research analysts.

Valero Energy (NYSE:VLO - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $177.00 to $197.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 13.73% from the stock's previous close.

Several other equities research analysts have also recently weighed in on VLO. Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Valero Energy in a report on Wednesday, October 8th. UBS Group upped their price objective on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and raised their price objective for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Finally, Evercore ISI boosted their target price on Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.60.

Valero Energy Trading Up 7.0%

Shares of VLO stock opened at $173.21 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a market cap of $53.81 billion, a P/E ratio of 72.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05. The stock has a 50 day simple moving average of $158.31 and a 200 day simple moving average of $140.18. Valero Energy has a 1 year low of $99.00 and a 1 year high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.51. The business had revenue of $32.17 billion during the quarter, compared to analysts' expectations of $28.80 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. On average, research analysts predict that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Norges Bank acquired a new stake in Valero Energy in the second quarter valued at $827,390,000. Vanguard Group Inc. raised its position in Valero Energy by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the last quarter. Nuveen LLC acquired a new position in Valero Energy during the 1st quarter worth about $529,864,000. Finally, Invesco Ltd. grew its position in shares of Valero Energy by 34.1% in the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock valued at $647,823,000 after buying an additional 1,247,196 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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