Citigroup Boosts Valero Energy (NYSE:VLO) Price Target to $246.00

Valero Energy (NYSE:VLO) had its price target increased by analysts at Citigroup from $212.00 to $246.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective points to a potential upside of 1.74% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Valero Energy from $197.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Morgan Stanley lifted their price target on shares of Valero Energy from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 27th. The Goldman Sachs Group lifted their price target on shares of Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen raised shares of Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and an average target price of $230.00.

Valero Energy Trading Up 2.9%

Shares of VLO stock opened at $241.78 on Wednesday. Valero Energy has a 1 year low of $106.83 and a 1 year high of $258.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.64 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $224.89 and its two-hundred day simple moving average is $191.23. The company has a market cap of $72.30 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 0.51 and a beta of 0.62.

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, beating analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The business had revenue of $30.37 billion for the quarter, compared to the consensus estimate of $28.20 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts predict that Valero Energy will post 7.92 earnings per share for the current year.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 400 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $238.60, for a total value of $95,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Valero Energy

Several large investors have recently added to or reduced their stakes in the stock. Smith Salley Wealth Management boosted its position in Valero Energy by 3.8% in the 1st quarter. Smith Salley Wealth Management now owns 2,705 shares of the oil and gas company’s stock valued at $668,000 after buying an additional 100 shares during the period. Evolve Private Wealth LLC raised its holdings in shares of Valero Energy by 419.3% in the 1st quarter. Evolve Private Wealth LLC now owns 23,606 shares of the oil and gas company’s stock valued at $5,833,000 after purchasing an additional 19,060 shares in the last quarter. First Community Trust NA raised its holdings in shares of Valero Energy by 8.3% in the 1st quarter. First Community Trust NA now owns 1,300 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 100 shares in the last quarter. Founders Financial Securities LLC raised its holdings in shares of Valero Energy by 6.4% in the 1st quarter. Founders Financial Securities LLC now owns 3,614 shares of the oil and gas company’s stock valued at $850,000 after purchasing an additional 218 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Valero Energy by 301.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 61,405 shares of the oil and gas company’s stock valued at $15,172,000 after purchasing an additional 46,120 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Company Profile

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.