Valero Energy (NYSE:VLO) Price Target Lowered to $147.00 at JPMorgan Chase & Co.

Valero Energy (NYSE:VLO) had its price objective cut by JPMorgan Chase & Co. from $152.00 to $147.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on VLO. Mizuho reduced their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley reduced their price target on Valero Energy from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Scotiabank reduced their price target on Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Raymond James reduced their price target on 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, Wells Fargo & Company cut their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.80.

Valero Energy Price Performance

Shares of VLO opened at $114.75 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The stock has a 50 day simple moving average of $122.65 and a 200 day simple moving average of $129.52. Valero Energy has a 52-week low of $99.00 and a 52-week high of $168.85. The firm has a market capitalization of $36.14 billion, a PE ratio of 13.53, a P/E/G ratio of 2.93 and a beta of 1.17.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. The business had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. During the same quarter in the prior year, the firm posted $3.82 earnings per share. Valero Energy’s revenue for the quarter was down 4.7% compared to the same quarter last year. Sell-side analysts predict that Valero Energy will post 7.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Hedge funds have recently bought and sold shares of the business. New Wave Wealth Advisors LLC bought a new stake in Valero Energy in the 4th quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in Valero Energy in the 4th quarter valued at about $29,000. Tobam bought a new stake in Valero Energy in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC bought a new stake in Valero Energy in the 4th quarter valued at about $38,000. Finally, OFI Invest Asset Management bought a new stake in Valero Energy in the 4th quarter valued at about $37,000. 78.69% of the stock is owned by institutional investors.

About Valero Energy

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.