Piper Sandler Forecasts Strong Price Appreciation for Valero Energy (NYSE:VLO) Stock

Valero Energy (NYSE:VLO) had its price target upped by stock analysts at Piper Sandler from $142.00 to $160.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price target points to a potential upside of 4.50% from the stock’s previous close.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Scotiabank decreased their target price on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Evercore ISI started coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an “in-line” rating and a $135.00 target price on the stock. Mizuho lifted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lifted their target price on shares of Valero Energy from $151.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $153.56.

Valero Energy Stock Performance

NYSE VLO opened at $153.11 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.09. The firm has a market capitalization of $47.96 billion, a price-to-earnings ratio of 54.10, a P/E/G ratio of 2.70 and a beta of 1.00. The company’s fifty day moving average is $133.97 and its two-hundred day moving average is $129.17. Valero Energy has a 52-week low of $99.00 and a 52-week high of $167.78.

Valero Energy (NYSE:VLO) 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 the consensus estimate of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.82 earnings per share. Equities research analysts forecast that Valero Energy will post 7.92 EPS for the current year.

Institutional Investors Weigh In On Valero Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quad Cities Investment Group LLC raised its stake in shares of Valero Energy by 2.9% during the second quarter. Quad Cities Investment Group LLC now owns 5,669 shares of the oil and gas company’s stock worth $762,000 after buying an additional 162 shares during the last quarter. Petredis Investment Advisors LLC raised its stake in shares of Valero Energy by 1.4% during the second quarter. Petredis Investment Advisors LLC now owns 49,978 shares of the oil and gas company’s stock worth $6,718,000 after buying an additional 701 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Valero Energy by 6.0% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 15,075 shares of the oil and gas company’s stock worth $2,026,000 after buying an additional 847 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Valero Energy by 17.6% during the second quarter. Farther Finance Advisors LLC now owns 8,745 shares of the oil and gas company’s stock valued at $1,176,000 after purchasing an additional 1,308 shares during the period. Finally, My Legacy Advisors LLC acquired a new position in Valero Energy during the second quarter valued at approximately $220,000. 78.69% of the stock is owned by institutional investors.

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.