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

Valero Energy (NYSE:VLO) had its target price boosted by UBS Group from $165.00 to $183.00 in a research report report published on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the stock. TD Cowen lowered shares of Valero Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price target on shares of Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Mizuho raised their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Bank of America upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Finally, Piper Sandler lifted their price objective on shares of Valero Energy from $171.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Valero Energy Trading Up 2.4%

Shares of VLO stock opened at $166.52 on Monday. The company has a 50 day moving average of $146.80 and a 200-day moving average of $134.42. 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 has a 12-month low of $99.00 and a 12-month high of $167.08. The firm has a market cap of $51.73 billion, a P/E ratio of 69.38, a PEG ratio of 1.76 and a beta of 1.10.

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

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy’s payout ratio is currently 188.33%.

Institutional Trading of Valero Energy

A number of hedge funds have recently made changes to their positions in VLO. Price T Rowe Associates Inc. MD lifted its stake in Valero Energy by 276.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the last quarter. Norges Bank bought a new stake in Valero Energy in the second quarter worth $827,390,000. Vanguard Group Inc. lifted its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the last quarter. Nuveen LLC bought a new stake in Valero Energy in the first quarter worth $529,864,000. Finally, GAMMA Investing LLC raised its stake in shares of Valero Energy by 15,395.5% during the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock valued at $179,047,000 after acquiring an additional 1,346,950 shares during the last quarter. 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.