Valero Energy (NYSE:VLO) Given New $185.00 Price Target at Evercore ISI

Key Points

• Evercore ISI increased Valero Energy's price target from $135.00 to $185.00, indicating a potential upside of 14.59% from the previous closing price.
• Valero Energy's consensus rating is "Moderate Buy," with two analysts rating it as Strong Buy and an average target price of $163.80.
• Despite trading down 1.5% recently, Valero Energy reported earnings of $2.28 per share for its last quarter, surpassing the consensus estimate by $0.62.

Valero Energy (NYSE:VLO - Free Report) had its price target upped by Evercore ISI from $135.00 to $185.00 in a research note issued to investors on Friday,Benzinga reports. Evercore ISI currently has an in-line rating on the oil and gas company's stock.

A number of other research firms also recently commented on VLO. Piper Sandler lifted their target price on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. UBS Group lifted their price objective on shares of Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, July 25th. 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 research note on Wednesday, September 3rd. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, Raymond James Financial boosted their price target on Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $163.80.

Valero Energy Stock Performance

Shares of NYSE:VLO traded down $1.30 on Friday, hitting $162.55. 8,119,393 shares of the company were exchanged, compared to its average volume of 2,495,504. Valero Energy has a 1-year low of $99.00 and a 1-year high of $165.65. The stock's 50 day moving average price is $146.45 and its 200 day moving average price is $134.09. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $50.50 billion, a P/E ratio of 67.73, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last posted 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 business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Sell-side analysts predict that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's dividend payout ratio is presently 188.33%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wayfinding Financial LLC acquired a new position in Valero Energy during the first quarter worth $26,000. Hoey Investments Inc. acquired a new position in shares of Valero Energy during the 2nd quarter worth about $26,000. GFG Capital LLC acquired a new position in shares of Valero Energy during the 2nd quarter worth about $27,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 130 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of Valero Energy during the fourth quarter valued at approximately $29,000. 78.69% of the stock is owned by institutional investors and hedge funds.

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.