Valero Energy (NYSE:VLO) Price Target Raised to $177.00 at Raymond James Financial

Valero Energy (NYSE:VLO) had its price objective raised by Raymond James Financial from $170.00 to $177.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the oil and gas company’s stock.

VLO has been the topic of several other reports. Morgan Stanley raised their target price on Valero Energy from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. TD Cowen downgraded Valero Energy from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Barclays lifted their price objective on Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. The Goldman Sachs Group upgraded Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $127.00 to $154.00 in a report on Tuesday, May 13th. Finally, Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.73.

Valero Energy Stock Performance

Shares of NYSE:VLO opened at $161.83 on Tuesday. The company has a market cap of $50.27 billion, a P/E ratio of 67.43, a PEG ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy has a one year low of $99.00 and a one year high of $163.02. The business’s 50-day simple moving average is $144.37 and its 200 day simple moving average is $132.38.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company’s revenue was down 13.3% on a year-over-year basis. During the same period last year, the business posted $2.71 EPS. On average, sell-side analysts forecast that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. Valero Energy’s dividend payout ratio (DPR) is presently 188.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the 1st quarter worth approximately $26,000. Hoey Investments Inc. acquired a new position in shares of Valero Energy in the 2nd quarter worth approximately $26,000. GFG Capital LLC acquired a new position in shares of Valero Energy in the 2nd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. grew its position in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 130 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of Valero Energy in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.