Valero Energy (NYSE:VLO) Price Target Raised to $169.00 at Barclays

Key Points

• Barclays raised its price target for Valero Energy from $151.00 to $169.00, maintaining an "overweight" rating, indicating a potential upside of 3.72% from the current levels.
• Other analysts have varied opinions, with TD Cowen lowering their rating to "hold" and UBS Group increasing their target to $183.00, resulting in a consensus rating of "Moderate Buy" and an average target price of $168.07.
• Valero Energy's shares are currently trading at $162.94, down 0.3%, with a recent earnings per share of $2.28, exceeding expectations, despite a 13.3% decline in year-over-year revenue.

Valero Energy (NYSE:VLO - Get Free Report) had its target price boosted by equities research analysts at Barclays from $151.00 to $169.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Barclays's price target points to a potential upside of 3.72% from the company's previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their price target on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. UBS Group raised their price objective on Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Morgan Stanley downgraded shares of Valero Energy from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $160.00 to $175.00 in a report on Friday. Finally, Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Valero Energy has a consensus rating of "Moderate Buy" and an average target price of $168.07.

Valero Energy Stock Down 0.3%

Shares of VLO traded down $0.48 during trading hours on Tuesday, reaching $162.94. The stock had a trading volume of 808,958 shares, compared to its average volume of 3,221,300. The firm has a 50-day simple moving average of $151.62 and a 200 day simple moving average of $137.18. Valero Energy has a 12 month low of $99.00 and a 12 month high of $178.43. 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 company has a market capitalization of $50.62 billion, a price-to-earnings ratio of 67.55, a P/E/G ratio of 1.69 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business's revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.71 earnings per share. Equities research analysts predict that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Several hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC boosted its position in shares of Valero Energy by 18.2% during the 1st quarter. Park Avenue Securities LLC now owns 16,220 shares of the oil and gas company's stock valued at $2,142,000 after acquiring an additional 2,502 shares during the last quarter. Wesbanco Bank Inc. raised its stake in Valero Energy by 9.7% in the first quarter. Wesbanco Bank Inc. now owns 7,815 shares of the oil and gas company's stock valued at $1,032,000 after purchasing an additional 689 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Valero Energy by 114.1% during the first quarter. Farther Finance Advisors LLC now owns 7,437 shares of the oil and gas company's stock valued at $995,000 after purchasing an additional 3,964 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Valero Energy in the 1st quarter worth approximately $1,089,000. Finally, Yousif Capital Management LLC increased its holdings in shares of Valero Energy by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 53,040 shares of the oil and gas company's stock worth $7,005,000 after buying an additional 661 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

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