Piper Sandler Forecasts Strong Price Appreciation for Valero Energy (NYSE:VLO) Stock

Key Points

• Piper Sandler has raised its price target for Valero Energy from $159.00 to $168.00, indicating a potential upside of 17.17% from the stock's previous close.
• Recent earnings reports show Valero Energy posted an EPS of $2.28, exceeding expectations and highlighting a revenue of $29.89 billion for the quarter.
• A majority of analysts provide a positive outlook, with ten buy ratings and two strong buy ratings for Valero Energy stock, while the current consensus rating is classified as a "Moderate Buy."

Valero Energy (NYSE:VLO - Get Free Report) had its price objective hoisted by research analysts at Piper Sandler from $159.00 to $168.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas company's stock. Piper Sandler's price objective points to a potential upside of 17.17% from the stock's previous close.

A number of other research analysts have also recently commented on the company. Mizuho upped their price target on Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Raymond James Financial upped their price target on Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 15th. Wolfe Research cut Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Evercore ISI began coverage on Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Stock Performance

Shares of Valero Energy stock traded up $1.41 during trading hours on Monday, hitting $143.38. 532,459 shares of the company's stock traded hands, compared to its average volume of 3,375,719. Valero Energy has a 12-month low of $99.00 and a 12-month high of $167.78. The stock has a market capitalization of $44.91 billion, a price-to-earnings ratio of 59.72, a PEG ratio of 3.43 and a beta of 1.00. The company has a fifty day simple moving average of $137.66 and a 200-day simple moving average of $130.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

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

Institutional Trading of Valero Energy

Hedge funds have recently made changes to their positions in the stock. Kiker Wealth Management LLC raised its position in Valero Energy by 466.1% during the second quarter. Kiker Wealth Management LLC now owns 334 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 275 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Valero Energy by 127.8% during the second quarter. Axxcess Wealth Management LLC now owns 6,493 shares of the oil and gas company's stock worth $873,000 after purchasing an additional 3,643 shares during the last quarter. Hudson Capital Management LLC lifted its stake in Valero Energy by 3.3% during the second quarter. Hudson Capital Management LLC now owns 34,616 shares of the oil and gas company's stock worth $4,653,000 after purchasing an additional 1,105 shares during the last quarter. NorthRock Partners LLC lifted its stake in Valero Energy by 19.8% during the second quarter. NorthRock Partners LLC now owns 4,403 shares of the oil and gas company's stock worth $592,000 after purchasing an additional 728 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Valero Energy by 7.5% during the second quarter. Sequoia Financial Advisors LLC now owns 20,401 shares of the oil and gas company's stock worth $2,742,000 after purchasing an additional 1,426 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.