Valero Energy (NYSE:VLO) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Valero Energy to “Strong Buy” from “Hold.” Analysts’ overall consensus remains “Moderate Buy,” with an average price target of $288.
• Valero reported quarterly EPS of $12.54, exceeding estimates of $10.11, while revenue reached $44.48 billion and increased 48.8% year over year.
• The stock opened at $302.10, near its 52-week high of $320.24. Institutional investors own 78.69% of the company, while an executive recently sold 7,500 shares.

Valero Energy (NYSE:VLO - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

VLO has been the topic of several other research reports. Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research note on Monday. BMO Capital Markets raised their target price on Valero Energy from $230.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Barclays boosted their price target on Valero Energy from $279.00 to $323.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Weiss Ratings raised Valero Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 23rd. Finally, Piper Sandler reissued an "overweight" rating and issued a $329.00 target price on shares of Valero Energy in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $288.00.

Valero Energy Price Performance

NYSE VLO opened at $302.10 on Tuesday. The company has a 50-day moving average price of $274.40 and a 200-day moving average price of $241.68. Valero Energy has a 52 week low of $130.78 and a 52 week high of $320.24. The company has a quick ratio of 1.23, a current ratio of 1.64 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $89.70 billion, a P/E ratio of 12.54, a PEG ratio of 0.21 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.11 by $2.43. The company had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm's revenue was up 48.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. Equities research analysts anticipate that Valero Energy will post 39.19 earnings per share for the current year.

Insider Buying and Selling at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the sale, the senior vice president directly owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by insiders.

Institutional Trading of Valero Energy

Large investors have recently added to or reduced their stakes in the company. Friedenthal Financial purchased a new position in shares of Valero Energy in the 4th quarter worth $954,000. Robeco Institutional Asset Management B.V. increased its stake in Valero Energy by 24.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 565,171 shares of the oil and gas company's stock worth $92,004,000 after acquiring an additional 112,118 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Valero Energy by 2.8% in the 4th quarter. Whittier Trust Co. now owns 212,104 shares of the oil and gas company's stock worth $37,812,000 after purchasing an additional 5,694 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Valero Energy in the 4th quarter worth about $1,079,000. Finally, Sierra Summit Advisors LLC lifted its stake in shares of Valero Energy by 2,325.2% in the 4th quarter. Sierra Summit Advisors LLC now owns 36,378 shares of the oil and gas company's stock valued at $5,922,000 after purchasing an additional 34,878 shares in the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source