Valero Energy (NYSE:VLO) Downgraded by Morgan Stanley to "Equal Weight"

Key Points

• Valero Energy has been downgraded by Morgan Stanley from an "overweight" to an "equal weight" rating, with a new price target set at $175.00, suggesting a potential upside of 6.34%.
• Other analysts like Piper Sandler and UBS have raised their price targets on Valero Energy, with prices ranging from $183.00 to $200.00, indicating a generally positive outlook from various firms.
• The company reported a $2.28 EPS for its latest quarter, exceeding estimates, despite a 13.3% decline in revenue year-over-year at $29.89 billion.

Valero Energy (NYSE:VLO - Get Free Report) was downgraded by stock analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report issued on Friday,Finviz reports. They currently have a $175.00 price target on the oil and gas company's stock. Morgan Stanley's price target would suggest a potential upside of 6.34% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lifted their price objective on Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. UBS Group raised their target price on Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Wells Fargo & Company lifted their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Mizuho increased their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Finally, Bank of America upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $152.00 to $179.00 in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $166.00.

Valero Energy Price Performance

Shares of VLO opened at $164.57 on Friday. The firm has a 50-day simple moving average of $150.88 and a two-hundred day simple moving average of $136.73. The stock has a market cap of $51.12 billion, a PE ratio of 68.57, a P/E/G ratio of 1.77 and a beta of 1.05. Valero Energy has a 1-year low of $99.00 and a 1-year high of $178.43. 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 data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same period in the prior year, the business posted $2.71 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, analysts forecast that Valero Energy will post 7.92 EPS for the current year.

Institutional Trading of Valero Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new stake in shares of Valero Energy during the 1st quarter worth about $26,000. Hoey Investments Inc. purchased a new position in Valero Energy in the second quarter valued at approximately $26,000. GFG Capital LLC purchased a new stake in shares of Valero Energy during the 2nd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Valero Energy by 1,277.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company's stock valued at $33,000 after buying an additional 230 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.

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.