Valero Energy (NYSE:VLO) Price Target Cut to $127.00

Valero Energy (NYSE:VLOGet Rating) had its price objective decreased by Cowen to $127.00 in a research note published on Tuesday, Stock Target Advisor reports.

Other equities research analysts also recently issued reports about the company. StockNews.com upgraded Valero Energy from a buy rating to a strong-buy rating in a report on Monday, September 5th. Piper Sandler decreased their price objective on Valero Energy from $150.00 to $148.00 and set an overweight rating on the stock in a report on Monday, September 12th. Barclays boosted their target price on Valero Energy from $133.00 to $139.00 and gave the company an overweight rating in a research report on Tuesday, August 16th. Wells Fargo & Company upped their price objective on Valero Energy from $136.00 to $166.00 and gave the company an overweight rating in a research report on Tuesday, June 14th. Finally, Redburn Partners downgraded Valero Energy from a buy rating to a neutral rating in a research report on Wednesday, June 1st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $132.92.

Valero Energy Stock Performance

NYSE VLO opened at $107.42 on Tuesday. The firm has a market cap of $42.32 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.63 and a beta of 1.68. The company has a fifty day moving average price of $111.57 and a 200-day moving average price of $111.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.25 and a quick ratio of 0.92. Valero Energy has a 1 year low of $62.27 and a 1 year high of $146.80.

Valero Energy (NYSE:VLOGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas company reported $11.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $5.03. Valero Energy had a net margin of 4.54% and a return on equity of 34.65%. The firm had revenue of $51.64 billion for the quarter, compared to the consensus estimate of $40.73 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 86.1% on a year-over-year basis. As a group, equities research analysts predict that Valero Energy will post 27.5 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 4th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $3.92 annualized dividend and a dividend yield of 3.65%. Valero Energy’s dividend payout ratio is presently 22.57%.

Hedge Funds Weigh In On Valero Energy

A number of large investors have recently bought and sold shares of VLO. FMR LLC grew its holdings in shares of Valero Energy by 53.4% during the 2nd quarter. FMR LLC now owns 15,471,401 shares of the oil and gas company’s stock valued at $1,644,300,000 after acquiring an additional 5,384,997 shares in the last quarter. Norges Bank bought a new position in shares of Valero Energy during the 4th quarter worth about $291,233,000. BlackRock Inc. increased its stake in Valero Energy by 4.3% in the fourth quarter. BlackRock Inc. now owns 37,549,543 shares of the oil and gas company’s stock valued at $2,820,347,000 after acquiring an additional 1,536,457 shares during the period. Vanguard Group Inc. grew its stake in Valero Energy by 3.2% during the first quarter. Vanguard Group Inc. now owns 47,955,666 shares of the oil and gas company’s stock worth $4,869,418,000 after buying an additional 1,499,939 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Valero Energy by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 7,642,838 shares of the oil and gas company’s stock worth $776,055,000 after buying an additional 1,296,547 shares during the last quarter. Institutional investors own 79.78% of the company’s stock.

About Valero Energy

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Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.

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