Mizuho Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Valero Energy (NYSE:VLO) had its price objective increased by Mizuho from $166.00 to $190.00 in a research note published on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the oil and gas company’s stock.

Several other research firms have also recently weighed in on VLO. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. TD Cowen cut Valero Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Piper Sandler boosted their target price on Valero Energy from $171.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Raymond James Financial boosted their target price on Valero Energy from $170.00 to $177.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 9th. Finally, Evercore ISI assumed coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an “in-line” rating and a $135.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and a consensus target price of $160.47.

Valero Energy Price Performance

VLO stock opened at $157.51 on Monday. The business has a 50 day moving average price of $145.51 and a 200 day moving average price of $133.10. The stock has a market cap of $48.93 billion, a price-to-earnings ratio of 65.63, a PEG ratio of 1.78 and a beta of 1.10. Valero Energy has a fifty-two week low of $99.00 and a fifty-two week high of $163.02. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion during the quarter, compared to analysts’ expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Equities research analysts anticipate that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were issued a $1.13 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.9%. Valero Energy’s payout ratio is presently 188.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of VLO. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter valued at approximately $26,000. Hoey Investments Inc. acquired a new position in Valero Energy during the second quarter worth $26,000. GFG Capital LLC acquired a new position in Valero Energy during the second quarter worth $27,000. Hazlett Burt & Watson Inc. grew its holdings in Valero Energy by 156.6% during the first 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 during the period. Finally, Ameriflex Group Inc. acquired a new position in Valero Energy during the fourth quarter worth $29,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

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.