Wells Fargo & Company Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Valero Energy (NYSE:VLO) had its price objective raised by Wells Fargo & Company from $220.00 to $292.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities analysts have also issued reports on VLO. Mizuho reaffirmed a “neutral” rating and issued a $192.00 price target (up from $190.00) on shares of Valero Energy in a report on Friday, December 12th. Wall Street Zen raised Valero Energy from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research downgraded Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Scotiabank raised Valero Energy to a “strong-buy” rating in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on Valero Energy from $197.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.33.

Valero Energy Stock Performance

VLO stock opened at $246.76 on Tuesday. Valero Energy has a one year low of $99.00 and a one year high of $258.43. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.62 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.11 and a current ratio of 1.64. The firm has a 50-day simple moving average of $211.83 and a two-hundred day simple moving average of $185.29.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. The firm had revenue of $30.37 billion for the quarter, compared to the consensus estimate of $28.20 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Valero Energy will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Thursday, February 5th were paid a dividend of $1.20 per share. The ex-dividend date was Thursday, February 5th. This is an increase from Valero Energy’s previous quarterly dividend of $1.13. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Valero Energy’s payout ratio is presently 62.83%.

Insider Buying and Selling at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $238.60, for a total transaction of $95,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Trading of Valero Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VLO. Nisa Investment Advisors LLC lifted its position in Valero Energy by 17.4% during the third quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company’s stock valued at $27,377,000 after purchasing an additional 23,859 shares during the period. Federated Hermes Inc. grew its position in Valero Energy by 15.7% during the 2nd quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock worth $21,770,000 after purchasing an additional 21,997 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Valero Energy during the 3rd quarter worth about $4,534,000. Cerity Partners LLC grew its position in Valero Energy by 9.0% during the 3rd quarter. Cerity Partners LLC now owns 104,859 shares of the oil and gas company’s stock worth $17,853,000 after purchasing an additional 8,638 shares during the period. Finally, Tema Etfs LLC purchased a new position in shares of Valero Energy during the 3rd quarter valued at about $1,669,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.