Scotiabank Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Valero Energy (NYSE:VLOGet Free Report) had its price target lifted by analysts at Scotiabank from $178.00 to $226.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s price objective suggests a potential downside of 3.42% from the stock’s current price.

Several other brokerages have also commented on VLO. Morgan Stanley boosted their price target on Valero Energy from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 27th. Citigroup boosted their price target on Valero Energy from $212.00 to $246.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Wall Street Zen raised Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Zacks Research lowered Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group upped their target price on Valero Energy from $203.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.18.

View Our Latest Report on Valero Energy

Valero Energy Price Performance

Shares of NYSE:VLO traded up $0.61 during trading on Wednesday, hitting $234.00. 1,207,566 shares of the stock were exchanged, compared to its average volume of 3,809,617. The company has a fifty day moving average price of $226.49 and a two-hundred day moving average price of $192.86. The company has a market cap of $69.97 billion, a PE ratio of 30.59, a P/E/G ratio of 0.47 and a beta of 0.62. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36. Valero Energy has a 12-month low of $110.00 and a 12-month high of $258.43.

Valero Energy (NYSE:VLOGet Free Report) last announced its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, topping the consensus estimate of $3.27 by $0.55. The business had revenue of $30.37 billion for the quarter, compared to analyst estimates of $28.20 billion. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. On average, analysts forecast that Valero Energy will post 18.36 EPS for the current year.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 400 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $238.60, for a total transaction of $95,440.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VLO. Norges Bank purchased a new position in shares of Valero Energy during the 4th quarter worth $1,111,542,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Valero Energy during the 3rd quarter worth $275,239,000. Pacer Advisors Inc. lifted its stake in shares of Valero Energy by 2,635.7% during the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company’s stock worth $154,736,000 after purchasing an additional 915,782 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Valero Energy by 49.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,696,811 shares of the oil and gas company’s stock worth $276,224,000 after purchasing an additional 560,116 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Valero Energy by 7.5% during the 4th quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock worth $922,728,000 after purchasing an additional 394,693 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy News Summary

Here are the key news stories impacting Valero Energy this week:

About Valero Energy

(Get Free Report)

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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Analyst Recommendations for Valero Energy (NYSE:VLO)

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