Valero Energy (NYSE:VLO – Get Free Report) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $172.00 to $151.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.84% from the company’s current price.
Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Mizuho decreased their target price on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on Valero Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective for the company. Piper Sandler cut Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Finally, Scotiabank boosted their price target on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.57.
View Our Latest Research Report on VLO
Valero Energy Stock Down 1.8 %
Valero Energy (NYSE:VLO – Get Free Report) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The company had revenue of $34.49 billion during the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. Valero Energy’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.40 earnings per share. Equities research analysts forecast that Valero Energy will post 10.26 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in Valero Energy by 37.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock worth $266,040,000 after purchasing an additional 426,093 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Valero Energy by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock valued at $677,007,000 after buying an additional 237,347 shares in the last quarter. AQR Capital Management LLC increased its holdings in Valero Energy by 17.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,550,010 shares of the oil and gas company’s stock worth $238,841,000 after acquiring an additional 232,494 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Valero Energy during the 1st quarter valued at about $39,517,000. Finally, Hsbc Holdings PLC increased its stake in Valero Energy by 20.5% during the second quarter. Hsbc Holdings PLC now owns 1,145,117 shares of the oil and gas company’s stock worth $179,490,000 after acquiring an additional 194,974 shares during the last quarter. Hedge funds and other 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.
Featured Articles
- Five stocks we like better than Valero Energy
- What Does a Stock Split Mean?
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- 3 Healthcare Dividend Stocks to Buy
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
- What is the Nikkei 225 index?
- How Recent Port Strikes Could Impact These 3 Key Stocks
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.