Wells Fargo & Company Cuts Valero Energy (NYSE:VLO) Price Target to $159.00

Valero Energy (NYSE:VLO) had its target price trimmed by Wells Fargo & Company from $160.00 to $159.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other equities analysts have also recently weighed in on the stock. TD Cowen decreased their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Mizuho decreased their price objective on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Barclays dropped their target price on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup reduced their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Scotiabank dropped their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.46.

Valero Energy Stock Down 1.9 %

Valero Energy stock opened at $132.85 on Friday. The company has a fifty day simple moving average of $130.83 and a 200 day simple moving average of $137.52. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy has a 1-year low of $116.84 and a 1-year high of $184.79. The company has a market cap of $42.06 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 2.81 and a beta of 1.42.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Research analysts anticipate that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, January 30th will be paid a $1.13 dividend. The ex-dividend date is Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a dividend yield of 3.40%. Valero Energy’s dividend payout ratio is 38.39%.

Institutional Investors Weigh In On Valero Energy

Institutional investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Valero Energy during the 4th quarter worth approximately $25,000. Peterson Financial Group Inc. bought a new stake in Valero Energy during the third quarter worth $28,000. Tobam acquired a new stake in shares of Valero Energy in the 4th quarter valued at $30,000. Compagnie Lombard Odier SCmA bought a new position in shares of Valero Energy in the 3rd quarter valued at $34,000. Finally, True Wealth Design LLC raised its holdings in shares of Valero Energy by 196.8% during the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after buying an additional 183 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

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.