Valero Energy (NYSE:VLO) Downgraded by Piper Sandler

Valero Energy (NYSE:VLO) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a report issued on Friday, Briefing.com reports. They currently have a $123.00 price objective on the oil and gas company’s stock, down from their previous price objective of $169.00. Piper Sandler’s price objective indicates a potential downside of 11.30% from the company’s previous close.

A number of other research analysts have also recently commented on VLO. JPMorgan Chase & Co. lowered their price target on Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wolfe Research started coverage on Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 target price for the company. The Goldman Sachs Group lowered their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research report on Monday. Scotiabank increased their price objective on shares of Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. Finally, Wells Fargo & Company raised their price target on Valero Energy from $165.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.07.

Valero Energy Price Performance

Shares of Valero Energy stock opened at $138.67 on Friday. Valero Energy has a 12 month low of $119.88 and a 12 month high of $184.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. The business has a 50 day simple moving average of $145.69 and a two-hundred day simple moving average of $155.13. The stock has a market capitalization of $44.43 billion, a P/E ratio of 6.87, a PEG ratio of 2.72 and a beta of 1.40.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The company had revenue of $34.49 billion during the quarter, compared to analysts’ expectations of $32.97 billion. During the same quarter in the prior year, the company earned $5.40 EPS. Valero Energy’s revenue was down .1% compared to the same quarter last year. As a group, analysts predict that Valero Energy will post 12.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Institutional investors have recently made changes to their positions in the stock. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy during the second quarter valued at approximately $27,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy in the second quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in Valero Energy during the 2nd quarter worth $31,000. Rise Advisors LLC acquired a new stake in shares of Valero Energy during the first quarter worth $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy in the first quarter worth approximately $33,000. 78.69% of the stock is owned by institutional investors and hedge funds.

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.