Valero Energy (NYSE:VLO) Price Target Raised to $435.00

Valero Energy (NYSE:VLO) had its target price lifted by Piper Sandler from $329.00 to $435.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the company. Erste Group Bank lowered Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. TD Cowen upped their target price on Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Wells Fargo & Company raised their price target on Valero Energy from $356.00 to $389.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Citigroup lifted their price target on shares of Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.18.

Valero Energy Stock Up 0.1%

Shares of NYSE:VLO opened at $370.94 on Thursday. The stock has a market capitalization of $106.80 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.57. The stock’s 50-day moving average price is $315.25 and its 200-day moving average price is $264.85. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. Valero Energy has a 12-month low of $153.20 and a 12-month high of $375.11.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The company had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. The firm’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, equities analysts anticipate that Valero Energy will post 41.15 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, July 31st. Valero Energy’s dividend payout ratio (DPR) is presently 19.92%.

Insider Transactions at Valero Energy

In other news, SVP Eric Fisher sold 7,500 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president directly owned 19,742 shares in the company, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Valero Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whipplewood Advisors LLC boosted its position in shares of Valero Energy by 3,400.0% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 102 shares during the period. Cornerstone Financial Management LLC raised its position in shares of Valero Energy by 57.6% during the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Valero Energy during the 3rd quarter valued at $27,000. Financial Life Planners purchased a new position in shares of Valero Energy during the 1st quarter valued at $28,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of Valero Energy by 134.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

About Valero Energy

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.