Valero Energy (NYSE:VLO) Stock Rating Lowered by Citigroup

Valero Energy (NYSE:VLO) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $150.00 price target on the oil and gas company’s stock, up from their prior price target of $134.00. Citigroup’s price objective points to a potential upside of 3.54% from the company’s previous close.

Several other equities analysts have also weighed in on the company. The Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Piper Sandler increased their price objective on Valero Energy from $142.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. TD Cowen reduced their price objective on Valero Energy from $121.00 to $118.00 and set a “buy” rating for the company in a report on Friday, April 25th. Morgan Stanley cut their price target on Valero Energy from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI began coverage on Valero Energy in a report on Wednesday, June 18th. They issued an “in-line” rating and a $135.00 price target for the company. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.94.

Valero Energy Stock Performance

Shares of VLO opened at $144.87 on Wednesday. The stock has a 50 day moving average of $136.19 and a 200 day moving average of $129.92. Valero Energy has a 12 month low of $99.00 and a 12 month high of $167.78. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 2.46 and a beta of 1.00. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. During the same period last year, the company posted $3.82 earnings per share. Valero Energy’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Valero Energy will post 7.92 earnings per share for the current year.

Institutional Investors Weigh In On Valero Energy

Several large investors have recently added to or reduced their stakes in VLO. Vanguard Group Inc. raised its position 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 in the last quarter. Ameriprise Financial Inc. raised its position 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 in the last quarter. Finally, Geode Capital Management LLC raised its position 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 in the last quarter. Institutional investors own 78.69% of the company’s stock.

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.