Valero Energy (NYSE:VLO) Price Target Cut to $151.00

Valero Energy (NYSE:VLO) 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.

Valero Energy Stock Down 1.8 %

NYSE:VLO traded down $2.46 during mid-day trading on Wednesday, reaching $135.01. The company’s stock had a trading volume of 1,126,841 shares, compared to its average volume of 3,007,255. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $44.15 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 3.31 and a beta of 1.40. The stock has a fifty day moving average of $143.54 and a 200-day moving average of $154.25. Valero Energy has a 1 year low of $119.88 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO) 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.