Valero Energy (NYSE:VLO) Receives Strong-Buy Rating from Raymond James Financial

Key Points

• Valero Energy has received a "strong-buy" rating from Raymond James Financial, raising its price objective to $195.00, indicating a potential upside of 12.34% from its current trading price.
• Other firms, including Piper Sandler and UBS Group, have also increased their target prices for Valero Energy, reflecting positive sentiment with a consensus rating of "Moderate Buy" and a price target of $177.60.
• Valero reported earnings of $3.66 per share for the last quarter, surpassing analyst expectations, with revenue of $32.17 billion, despite a year-over-year revenue decline of 2.2%.

Valero Energy (NYSE:VLO - Get Free Report)'s stock had its "strong-buy" rating reissued by Raymond James Financial in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $195.00 price objective on the oil and gas company's stock, up from their prior price objective of $181.00. Raymond James Financial's price target would suggest a potential upside of 12.34% from the company's current price.

A number of other research firms have also recently issued reports on VLO. Piper Sandler increased their target price on Valero Energy from $200.00 to $201.00 and gave the stock an "overweight" rating in a report on Friday. UBS Group increased their target price on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Morgan Stanley downgraded shares of Valero Energy from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $160.00 to $175.00 in a research note on Friday, October 3rd. Evercore ISI increased their price objective on shares of Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. Finally, Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.60.

Valero Energy Price Performance

VLO traded up $0.46 during midday trading on Friday, hitting $173.59. The company had a trading volume of 637,985 shares, compared to its average volume of 3,154,524. The firm's 50-day simple moving average is $158.31 and its 200-day simple moving average is $140.18. The company has a market capitalization of $53.92 billion, a PE ratio of 72.51, a P/E/G ratio of 1.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy has a twelve month low of $99.00 and a twelve month high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.51. The firm had revenue of $32.17 billion during the quarter, compared to analysts' expectations of $28.80 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Equities research analysts predict that Valero Energy will post 7.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Highline Wealth Partners LLC grew its stake in shares of Valero Energy by 70.2% in the third quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Hoey Investments Inc. bought a new stake in shares of Valero Energy in the second quarter worth $26,000. Global Wealth Strategies & Associates acquired a new position in Valero Energy in the third quarter valued at $34,000. Wayfinding Financial LLC acquired a new position in Valero Energy in the first quarter valued at $26,000. Finally, GFG Capital LLC acquired a new position in Valero Energy in the second quarter valued at $27,000. Institutional investors and hedge funds own 78.69% of the company's stock.

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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