Mizuho Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Key Points

• Mizuho has raised its price target for Valero Energy (NYSE:VLO) from $166.00 to $190.00, suggesting a potential upside of 20.39% from its previous close, maintaining an "outperform" rating.
• Valero Energy recently reported earnings of $2.28 per share, surpassing analysts' expectations of $1.66, despite a 13.3% decline in revenue compared to last year.
• The company has experienced significant institutional investment, with Vanguard Group increasing its holdings by 12.0%, indicating strong confidence in Valero's stock.

Valero Energy (NYSE:VLO - Get Free Report) had its price objective lifted by stock analysts at Mizuho from $166.00 to $190.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the oil and gas company's stock. Mizuho's price objective would indicate a potential upside of 20.39% from the stock's previous close.

VLO has been the topic of several other research reports. Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and upped their price objective for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. UBS Group upped their price objective on shares of Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company upped their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and upped their price objective for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Raymond James Financial raised their price target on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $160.47.

Valero Energy Stock Up 0.7%

NYSE:VLO traded up $1.10 during mid-day trading on Monday, reaching $157.82. The company's stock had a trading volume of 620,779 shares, compared to its average volume of 3,207,842. Valero Energy has a 1 year low of $99.00 and a 1 year high of $163.02. The stock has a fifty day moving average of $145.24 and a 200-day moving average of $132.92. The firm has a market capitalization of $49.03 billion, a PE ratio of 65.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. Equities research analysts forecast that Valero Energy will post 7.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 4,155,522 shares during the period. Charles Schwab Investment Management Inc. grew its position in Valero Energy by 2.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company's stock valued at $1,576,035,000 after acquiring an additional 286,942 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Valero Energy by 276.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after acquiring an additional 7,931,018 shares in the last quarter. Geode Capital Management LLC grew its position in Valero Energy by 16.7% in the 2nd quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company's stock valued at $1,089,897,000 after acquiring an additional 1,164,217 shares in the last quarter. Finally, Norges Bank acquired a new position in Valero Energy in the 2nd quarter valued at about $827,390,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

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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