Valero Energy (NYSE:VLO) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage of Valero Energy, assigning an "overweight" rating and setting a price target of $216.00, indicating a potential upside of 38.11% from the stock's previous close.
• Valero Energy recently reported earnings per share of $2.28, exceeding expectations, with quarterly revenue of $29.89 billion, although it was down 13.3% year-over-year.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a current average price target of $173.00, reflecting a variety of ratings from "Strong Buy" to "Hold".

Investment analysts at Wells Fargo & Company began coverage on shares of Valero Energy (NYSE:VLO - Get Free Report) in a research note issued on Friday,Benzinga reports. The firm set an "overweight" rating and a $216.00 price target on the oil and gas company's stock. Wells Fargo & Company's price objective points to a potential upside of 38.11% from the stock's previous close.

Several other equities analysts have also commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Valero Energy in a report on Wednesday, October 8th. Mizuho raised their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Citigroup cut shares of Valero Energy from a "buy" rating to a "neutral" rating and raised their price objective for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. UBS Group raised their price objective on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, Evercore ISI lifted their price target on shares of Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $173.00.

Valero Energy Stock Performance

Valero Energy stock opened at $156.40 on Friday. The firm has a 50 day simple moving average of $155.50 and a 200-day simple moving average of $138.68. 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. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 65.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating 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 analysts' expectations of $27 billion. During the same quarter in the prior year, the company posted $2.71 EPS. The business's revenue for the quarter was down 13.3% on a year-over-year basis. On average, analysts expect that Valero Energy will post 7.92 EPS for the current year.

Hedge Funds Weigh In On Valero Energy

Several institutional investors have recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in Valero Energy in the 1st quarter valued at about $26,000. Hoey Investments Inc. acquired a new stake in Valero Energy in the 2nd quarter valued at about $26,000. GFG Capital LLC acquired a new stake in Valero Energy in the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC lifted its holdings in Valero Energy by 70.2% in the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in 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 acquiring an additional 130 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

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.

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