Valero Energy (NYSE:VLO) Price Target Raised to $177.00 at Raymond James Financial

Key Points

• Valero Energy has seen its price target raised from $170.00 to $177.00 by Raymond James Financial, reflecting a potential upside of 9.66% from its previous close.
• The company reported $2.28 earnings per share for the last quarter, surpassing analysts' expectations of $1.66 and generating a revenue of $29.89 billion.
• Valero currently holds a Moderate Buy consensus rating, with two analysts giving it a Strong Buy and an average price target of $156.73.

Valero Energy (NYSE:VLO - Free Report) had its price target boosted by Raymond James Financial from $170.00 to $177.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a strong-buy rating on the oil and gas company's stock.

A number of other equities analysts have also commented on the company. Morgan Stanley increased their price target on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Evercore ISI initiated coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price objective for the company. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price objective on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

Valero Energy Stock Performance

VLO traded down $0.81 during midday trading on Tuesday, reaching $156.78. The company had a trading volume of 1,642,612 shares, compared to its average volume of 2,390,270. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $145.24 and a two-hundred day moving average of $132.87. The company has a market cap of $48.70 billion, a P/E ratio of 65.33, a P/E/G ratio of 1.85 and a beta of 1.10. Valero Energy has a 1 year low of $99.00 and a 1 year high of $163.02.

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, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, equities research analysts predict that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in Valero Energy during the 1st quarter worth $26,000. Hoey Investments Inc. purchased a new position in Valero Energy during the 2nd quarter worth $26,000. GFG Capital LLC purchased a new position in Valero Energy during the 2nd quarter worth $27,000. Hazlett Burt & Watson Inc. increased its holdings in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 130 shares during the period. Finally, Ameriflex Group Inc. purchased a new position in Valero Energy during the 4th quarter worth $29,000. 78.69% of the stock is currently owned by hedge funds and other 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.