Valero Energy (NYSE:VLO) Upgraded to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Valero Energy (NYSE:VLO - Free Report) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $154.00 price target on the oil and gas company's stock, up from their prior price target of $127.00.

A number of other analysts have also issued reports on VLO. Wells Fargo & Company reduced their price target on shares of Valero Energy from $160.00 to $159.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. TD Cowen reduced their price target on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Piper Sandler reduced their price target on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Raymond James reduced their price target on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group reduced their price target on shares of Valero Energy from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Valero Energy has an average rating of "Moderate Buy" and a consensus target price of $151.93.

Valero Energy Trading Up 0.3%

Shares of VLO traded up $0.39 during midday trading on Tuesday, hitting $135.76. The stock had a trading volume of 2,252,609 shares, compared to its average volume of 3,036,469. Valero Energy has a fifty-two week low of $99.00 and a fifty-two week high of $167.78. The business has a 50-day simple moving average of $120.83 and a two-hundred day simple moving average of $128.51. The firm has a market cap of $42.52 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.93 and a beta of 0.98. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to analysts' expectations of $28.54 billion. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Valero Energy's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.82 earnings per share. As a group, equities analysts forecast that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $4.52 annualized dividend and a yield of 3.33%. Valero Energy's dividend payout ratio (DPR) is presently 159.72%.

Hedge Funds Weigh In On Valero Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock valued at $1,510,586,000 after purchasing an additional 736,533 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after purchasing an additional 7,931,018 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Valero Energy by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock valued at $973,119,000 after purchasing an additional 429,252 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Valero Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company's stock valued at $844,775,000 after purchasing an additional 100,248 shares during the last quarter. 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.