Wells Fargo & Company Increases Valero Energy (NYSE:VLO) Price Target to $220.00

Valero Energy (NYSE:VLO) had its target price lifted by equities researchers at Wells Fargo & Company from $216.00 to $220.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 21.57% from the company’s current price.

Several other research firms also recently issued reports on VLO. Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Evercore ISI lifted their price target on shares of Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Piper Sandler upped their price target on shares of Valero Energy from $200.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Citigroup lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Finally, Barclays boosted their target price on shares of Valero Energy from $151.00 to $169.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and a consensus price target of $179.53.

Valero Energy Stock Performance

Valero Energy stock opened at $180.97 on Monday. Valero Energy has a 12-month low of $99.00 and a 12-month high of $182.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09. The company has a market capitalization of $55.20 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01. The firm’s fifty day moving average price is $165.41 and its 200 day moving average price is $146.50.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The company had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $28.80 billion. During the same period last year, the firm earned $1.14 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. On average, research analysts forecast that Valero Energy will post 7.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

A number of large investors have recently bought and sold shares of VLO. Highline Wealth Partners LLC lifted its holdings in shares of Valero Energy by 70.2% in the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Hoey Investments Inc. acquired a new stake in Valero Energy in the second quarter worth $26,000. Global Wealth Strategies & Associates acquired a new stake in Valero Energy in the third quarter worth $34,000. Cypress Capital Management LLC WY bought a new stake in Valero Energy in the third quarter valued at $34,000. Finally, GFG Capital LLC acquired a new position in shares of Valero Energy during the second quarter valued at $27,000. 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.