Valero Energy (NYSE:VLO) Price Target Cut to $187.00

Valero Energy (NYSE:VLO - Get Free Report) had its target price decreased by Piper Sandler from $198.00 to $187.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas company's stock. Piper Sandler's target price would indicate a potential upside of 19.96% from the company's current price.

A number of other research firms have also weighed in on VLO. TD Cowen reduced their price objective on shares of Valero Energy from $190.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 29th. UBS Group raised their price target on shares of Valero Energy from $167.00 to $197.00 and gave the company a "buy" rating in a report on Tuesday, March 26th. The Goldman Sachs Group raised their price target on shares of Valero Energy from $130.00 to $171.00 and gave the company a "sell" rating in a report on Friday, March 22nd. Citigroup raised their price target on shares of Valero Energy from $160.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, April 18th. Finally, Scotiabank raised their price target on shares of Valero Energy from $138.00 to $165.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $173.87.

Valero Energy Stock Performance

Shares of VLO stock traded down $0.04 during trading hours on Tuesday, hitting $155.89. 2,436,651 shares of the company were exchanged, compared to its average volume of 3,187,891. The firm has a fifty day simple moving average of $164.88 and a 200 day simple moving average of $143.00. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. Valero Energy has a 52-week low of $105.66 and a 52-week high of $184.79. The stock has a market capitalization of $50.98 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 1.44 and a beta of 1.55.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.64. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The business had revenue of $31.76 billion during the quarter, compared to analyst estimates of $32.02 billion. During the same period in the previous year, the business earned $8.27 EPS. Valero Energy's revenue was down 12.8% compared to the same quarter last year. Research analysts predict that Valero Energy will post 18.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the business's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $158.12, for a total value of $113,846.40. Following the transaction, the director now owns 13,314 shares in the company, valued at $2,105,209.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Valero Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC grew its holdings in Valero Energy by 22.4% in the third quarter. Perigon Wealth Management LLC now owns 2,243 shares of the oil and gas company's stock worth $318,000 after purchasing an additional 410 shares during the period. Fifth Third Bancorp lifted its stake in shares of Valero Energy by 9.2% in the third quarter. Fifth Third Bancorp now owns 11,963 shares of the oil and gas company's stock worth $1,695,000 after buying an additional 1,012 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Valero Energy by 29.0% in the third quarter. Jennison Associates LLC now owns 241,543 shares of the oil and gas company's stock worth $34,229,000 after buying an additional 54,362 shares in the last quarter. Manhattan West Asset Management LLC bought a new position in shares of Valero Energy in the third quarter worth approximately $203,000. Finally, Wright Investors Service Inc. lifted its position in Valero Energy by 1.7% during the third quarter. Wright Investors Service Inc. now owns 33,071 shares of the oil and gas company's stock valued at $4,686,000 after purchasing an additional 539 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

About Valero Energy

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.