TD Cowen Trims Valero Energy (NYSE:VLO) Target Price to $140.00

Valero Energy (NYSE:VLO) had its price objective decreased by TD Cowen from $145.00 to $140.00 in a research note published on Friday morning, Marketbeat.com reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other brokerages also recently issued reports on VLO. Wolfe Research assumed coverage on shares of Valero Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective on the stock. Bank of America began coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective on the stock. BMO Capital Markets dropped 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 price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $169.00 to $123.00 in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.53.

Valero Energy Price Performance

VLO stock opened at $132.40 on Friday. The stock’s 50 day moving average price is $138.20 and its 200 day moving average price is $149.77. The firm has a market cap of $43.29 billion, a P/E ratio of 6.56, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. 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 quarterly earnings data 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. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the company earned $7.49 earnings per share. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, sell-side analysts expect that Valero Energy will post 9.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VLO. Fiducient Advisors LLC purchased a new stake in shares of Valero Energy during the 3rd quarter valued at about $290,000. JFS Wealth Advisors LLC grew its position in Valero Energy by 126.3% in the third quarter. JFS Wealth Advisors LLC now owns 568 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 317 shares in the last quarter. Adams Natural Resources Fund Inc. raised its stake in shares of Valero Energy by 40.8% during the third quarter. Adams Natural Resources Fund Inc. now owns 121,100 shares of the oil and gas company’s stock valued at $16,352,000 after purchasing an additional 35,100 shares during the period. Adell Harriman & Carpenter Inc. lifted its position in shares of Valero Energy by 6.8% during the third quarter. Adell Harriman & Carpenter Inc. now owns 74,478 shares of the oil and gas company’s stock worth $10,057,000 after purchasing an additional 4,735 shares in the last quarter. Finally, Avitas Wealth Management LLC boosted its stake in shares of Valero Energy by 1.5% in the third quarter. Avitas Wealth Management LLC now owns 39,740 shares of the oil and gas company’s stock valued at $5,366,000 after purchasing an additional 582 shares during the period. Institutional investors and hedge funds 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.