Valero Energy (NYSE:VLO) Price Target Increased to $179.00 by Analysts at Barclays

Valero Energy (NYSE:VLOFree Report) had its target price increased by Barclays from $149.00 to $179.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on VLO. Citigroup initiated coverage on Valero Energy in a research note on Wednesday, January 24th. They issued a buy rating for the company. Mizuho cut Valero Energy from a buy rating to a neutral rating and raised their price objective for the stock from $150.00 to $173.00 in a research note on Friday, March 22nd. Raymond James lifted their target price on Valero Energy from $154.00 to $155.00 and gave the stock a strong-buy rating in a report on Friday, January 26th. UBS Group increased their price target on shares of Valero Energy from $167.00 to $197.00 and gave the stock a buy rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Valero Energy from $177.00 to $178.00 and gave the company an overweight rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $170.62.

Read Our Latest Stock Analysis on Valero Energy

Valero Energy Price Performance

Shares of NYSE VLO opened at $180.29 on Wednesday. Valero Energy has a fifty-two week low of $104.18 and a fifty-two week high of $182.73. The company has a market cap of $59.94 billion, a PE ratio of 7.29, a P/E/G ratio of 1.78 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.56. The business has a 50-day simple moving average of $149.35 and a two-hundred day simple moving average of $136.47.

Valero Energy (NYSE:VLOGet Free Report) last released its earnings results on Thursday, January 25th. The oil and gas company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.60. The company had revenue of $35.41 billion during the quarter, compared to analysts’ expectations of $34.76 billion. Valero Energy had a net margin of 6.10% and a return on equity of 31.62%. Valero Energy’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the business earned $8.45 EPS. As a group, equities analysts expect that Valero Energy will post 16.2 EPS for the current fiscal year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Thursday, February 1st were issued a $1.07 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, January 31st. This represents a $4.28 dividend on an annualized basis and a yield of 2.37%. Valero Energy’s payout ratio is presently 17.31%.

Institutional Investors Weigh In On Valero Energy

Several hedge funds have recently modified their holdings of VLO. Norges Bank acquired a new position in Valero Energy in the 4th quarter worth about $570,428,000. International Assets Investment Management LLC lifted its position in shares of Valero Energy by 12,883.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,047,360 shares of the oil and gas company’s stock valued at $136,157,000 after buying an additional 1,039,293 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Valero Energy by 121.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,739,618 shares of the oil and gas company’s stock valued at $242,853,000 after acquiring an additional 952,518 shares during the period. Marshall Wace LLP increased its holdings in Valero Energy by 338.9% in the 2nd quarter. Marshall Wace LLP now owns 905,403 shares of the oil and gas company’s stock worth $106,204,000 after acquiring an additional 699,109 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Valero Energy by 94.4% during the third quarter. Acadian Asset Management LLC now owns 1,429,706 shares of the oil and gas company’s stock worth $202,585,000 after acquiring an additional 694,224 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

About Valero Energy

(Get Free Report)

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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