Valero Energy (NYSE:VLO) Price Target Lowered to $160.00 at Wells Fargo & Company

Valero Energy (NYSE:VLO) had its price target trimmed by Wells Fargo & Company from $165.00 to $160.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

VLO has been the subject of a number of other reports. BMO Capital Markets lowered their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Scotiabank lowered their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Bank of America initiated coverage on Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. Finally, Citigroup lowered their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.50.

Valero Energy Stock Performance

Shares of VLO stock opened at $134.57 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The stock has a market cap of $42.60 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. The stock has a 50-day moving average of $136.97 and a 200-day moving average of $144.03. Valero Energy has a one year low of $120.21 and a one year high of $184.79.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $7.49 EPS. As a group, sell-side analysts expect that Valero Energy will post 8.89 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 20th. Valero Energy’s payout ratio is presently 38.39%.

Institutional Investors Weigh In On Valero Energy

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Valero Energy by 4,908.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock valued at $384,907,000 after purchasing an additional 2,793,607 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Valero Energy by 11,318.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,076,349 shares of the oil and gas company’s stock valued at $145,339,000 after purchasing an additional 1,066,923 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Valero Energy by 900.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock valued at $85,217,000 after purchasing an additional 568,000 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Valero Energy by 18.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock valued at $484,105,000 after purchasing an additional 567,059 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Valero Energy during the 3rd quarter valued at $70,352,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Company Profile

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.