Valero Energy (NYSE:VLO) Given "Overweight" Rating at Piper Sandler

Key Points

• Piper Sandler reissued an “overweight” rating on Valero Energy and set a $329 price target, implying about 4.76% upside from the prior close.
• Other analysts remain mostly positive on VLO, with recent target raises from firms like Goldman Sachs, Mizuho, Scotiabank, BMO Capital Markets, and Wells Fargo. The stock now carries a Moderate Buy consensus and an average target price of $266.71.
• Valero’s latest quarterly results beat expectations, reporting $4.22 EPS versus the $3.16 estimate and $32.38 billion in revenue, while revenue rose 7% year over year. The company also saw an insider sale by SVP Eric A. Fisher, who sold 7,500 shares.

Valero Energy (NYSE:VLO - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They currently have a $329.00 price target on the oil and gas company's stock. Piper Sandler's price objective indicates a potential upside of 4.76% from the company's previous close.

Several other analysts have also weighed in on VLO. Mizuho lifted their price objective on Valero Energy from $222.00 to $289.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. The Goldman Sachs Group lifted their price target on shares of Valero Energy from $286.00 to $357.00 and gave the stock a "buy" rating in a research note on Wednesday. Scotiabank boosted their price target on shares of Valero Energy from $178.00 to $226.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. BMO Capital Markets raised their price objective on shares of Valero Energy from $230.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Wells Fargo & Company lifted their target price on shares of Valero Energy from $220.00 to $292.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $266.71.

Valero Energy Price Performance

NYSE:VLO opened at $314.06 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15. Valero Energy has a one year low of $130.78 and a one year high of $320.24. The company has a fifty day moving average price of $262.98 and a 200 day moving average price of $232.93. The stock has a market cap of $93.25 billion, a P/E ratio of 22.84, a PEG ratio of 0.38 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $1.06. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The company had revenue of $32.38 billion for the quarter, compared to the consensus estimate of $31.38 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The business's revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Valero Energy will post 32.61 earnings per share for the current year.

Insider Activity

In related news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Trading of Valero Energy

Several hedge funds have recently modified their holdings of VLO. Ballast Inc. raised its stake in shares of Valero Energy by 7.4% in the second quarter. Ballast Inc. now owns 6,217 shares of the oil and gas company's stock valued at $1,619,000 after acquiring an additional 430 shares during the last quarter. Regent Peak Wealth Advisors LLC bought a new position in Valero Energy in the 2nd quarter valued at $205,000. Heck Capital Advisors LLC acquired a new position in Valero Energy in the second quarter worth $286,000. Tema ETFs LLC grew its holdings in shares of Valero Energy by 10.2% during the second quarter. Tema ETFs LLC now owns 6,270 shares of the oil and gas company's stock worth $1,633,000 after purchasing an additional 580 shares during the last quarter. Finally, HRC Wealth Management LLC bought a new stake in Valero Energy during the 2nd quarter worth about $208,000. Institutional investors and hedge funds own 78.69% of the company's stock.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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