Valero Energy (NYSE:VLO) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Valero Energy has been upgraded to a "strong-buy" rating by Wells Fargo & Company, reflecting increasing confidence in the firm's stock performance.
• Several other analysts also raised their price targets for Valero Energy, with UBS setting a new target at $183.00 and Mizuho at $190.00, indicating a positive outlook for the company.
• Valero reported better-than-expected earnings, with earnings per share of $2.28, surpassing analysts' estimates and resulting in a revenue of $29.89 billion for the last quarter.

Valero Energy (NYSE:VLO - Get Free Report) was upgraded by research analysts at Wells Fargo & Company to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. UBS Group lifted their price objective on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Mizuho lifted their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $181.00 price objective (up previously from $177.00) on shares of Valero Energy in a report on Friday. Barclays lifted their target price on shares of Valero Energy from $151.00 to $169.00 and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Finally, Piper Sandler lifted their target price on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $173.27.

Valero Energy Trading Up 0.8%

NYSE:VLO opened at $157.62 on Thursday. Valero Energy has a 12 month low of $99.00 and a 12 month high of $178.43. The firm has a fifty day simple moving average of $155.99 and a 200-day simple moving average of $138.84. 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 $48.96 billion, a P/E ratio of 65.68, a PEG ratio of 1.61 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (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 firm had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same quarter last year, the company posted $2.71 earnings per share. The firm's revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Valero Energy will post 7.92 earnings per share for the current year.

Institutional Trading of Valero Energy

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its holdings in shares of Valero Energy by 2.0% during the third quarter. Private Trust Co. NA now owns 3,381 shares of the oil and gas company's stock valued at $576,000 after acquiring an additional 65 shares during the period. Highline Wealth Partners LLC boosted its holdings in shares of Valero Energy by 70.2% during the third 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 period. Broadway Wealth Solutions Inc. boosted its holdings in shares of Valero Energy by 3.8% during the second quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company's stock valued at $251,000 after acquiring an additional 69 shares during the period. Sowell Financial Services LLC boosted its holdings in shares of Valero Energy by 0.6% during the third quarter. Sowell Financial Services LLC now owns 11,467 shares of the oil and gas company's stock valued at $1,952,000 after acquiring an additional 70 shares during the period. Finally, Quad Cities Investment Group LLC boosted its holdings in shares of Valero Energy by 1.3% during the third quarter. Quad Cities Investment Group LLC now owns 5,742 shares of the oil and gas company's stock valued at $978,000 after acquiring an additional 73 shares during the period. Institutional investors 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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